International Maritime Organization warns of global shipping crisis

The International Maritime Organization (IMO) has warned of an unprecedented global shipping crisis driven by escalating geopolitical tensions in critical maritime corridors. The organization reports a severe decline in vessel traffic through the Strait of Hormuz, where daily commercial transits have dropped by approximately 94% compared to pre-crisis levels. This decline poses significant risks to global energy markets, as roughly 20% of the world's oil supply passes through the strait.

Beyond the Strait of Hormuz, maritime security is deteriorating across multiple regions. Threats include Houthi attacks in the Red Sea, increased piracy off the coast of Somalia, and drone attacks against tankers and grain vessels in the Black Sea. Damien Chevalier, IMO Director of Maritime Safety, noted that commercial vessels and crews are increasingly being used as tools of pressure in geopolitical conflicts.

In the Black Sea, grain export ports are seeing a drastic reduction in activity, receiving only one or two ships per day during harvest season compared to the usual 20 to 30. These combined disruptions threaten global supply chains, increase shipping and insurance costs, and could drive up energy prices and inflation worldwide.