The Panama Canal will reduce daily transits from September as an intensifying El Niño drives rainfall sharply below average, raising the prospect of longer delays, higher costs and renewed disruption to global trade flows

Both the US and Iran are happy to avoid escalation at the moment and the strait remains closed, so how does the situation change?

A sanctioned product tanker has been hijacked in the Gulf of Aden and diverted towards Somalia, marking the second piracy-related vessel seizure in four days and reinforcing warnings that Somali pirate groups are re-establishing their reach across one of the world’s busiest shipping lanes

The latest escalation came as CK Hutchison flagged a 1% drop in its port throughput in 1H26 because of reduced volume following Panama’s decision to void its contracts

Zim reported average freight rates of $1,590 per teu in the second quarter, up by 21% compared to Q1

Eight crew members and two armed security guards are reportedly still on board the cargoship after pirates gained access to the citadel