July 15, 2026 — Global shipping rates continue to be high as the ongoing conflict between the U.S. and Iran drives up costs, and the latest attacks by Iran on vessels in the Strait of Hormuz could cause more issues.
Trans-Pacific shipping rates appeared to moderate in early July, as spot rates for certain major routes stayed relatively flat after months of steady increases, according to shipping rate indexing and analysis firm Xeneta.
March 2, 2026 — U.S. and Israeli strikes on Iran have had an immediate effect on global trade patterns as both air and ocean routes in the region have closed.
FreightWaves reported ocean shipping lines have “fled” the Strait of Hormuz, which is the narrow route between Iran, Oman, and the United Arab Emirates. Iran announced it planned to “close” the strait, according to media reports, which was followed by reports of attacks on ships.