Strait of Hormuz shipping delays likely extend three months despite US‑Iran peace pact

A temporary cease‑fire agreement between the United States and Iran was signed this week, aiming to reopen the Strait of Hormuz after its closure in February. Shipping analysts caution that even if the truce holds, full container traffic through the waterway will not resume for at least three months, with around 10% of global container capacity still affected and freight rates expected to stay elevated for several weeks. The International Maritime Organization is coordinating the safe evacuation of thousands of seafarers stranded in the area, while the World Shipping Council emphasizes the need for coordinated risk assessments and mine‑mitigation before normal operations resume.

At the same time, major carriers are keeping fuel surcharges in place and ocean freight rates from China to U.S. ports remain in the $6,000‑$7,000 per forty‑foot equivalent unit range. Persistent backlogs and volatility in space availability mean rates are unlikely to fall soon, and shippers are advised to expect continued price pressure and extended lead times.