What did IMO Secretary General Arsenio Dominguez state about safety in the Strait of Hormuz, and what is the current status of vessel transits?

"There is no safe transit anywhere in the Strait of Hormuz," stated IMO Secretary General Arsenio Dominguez in an informal briefing on 24 April. Transits through the strait have been essentially halted since late February following attacks between the US and Iran. Although five vessels transited the strait in the past 24 hours according to the Strait of Hormuz tracker, major shipping lines like Maersk have advised avoiding all transits due to ongoing volatility.

How has the closure of the Strait of Hormuz affected global shipping markets, particularly container shipping versus crude oil and chemical transport?

The closure has had limited impact on container shipping—less than 2% of global container capacity passes through the strait annually—but contributed to higher freight rates mainly due to surging bunker fuel prices. In contrast, it has severely disrupted crude oil and chemical markets, as around one-third of global seaborne crude flows and up to 20% of the world’s total oil flows transit the strait.

No Safe Passage Through Strait of Hormuz – IMO Secretary General

Apr 27, 2026

IMO Secretary General declares Strait of Hormuz unsafe, impacting crude oil and chemical markets while diverting traffic to the Panama Canal and driving up shipping rates. One-third of global seaborne crude flows pass through the region, posing significant supply risks.

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