Beijing time, February 28th, the United States and Israel launched military strikes against Iran. The Strait of Hormuz, located in a crucial waterway, has received significant attention.

According to CCTV News, the Islamic Revolutionary Guard Corps of Iran announced on the evening of February 28th that it prohibits any vessels from passing through the Strait of Hormuz.

Previously, according to CCTV News, on the evening of February 28th local time, a correspondent from China Media Group learned from the UK Maritime Trade Operations Office that the Strait of Hormuz remains open, but passage with caution is advised. There were previous reports that Iran had closed the Strait of Hormuz. As of now, the Iranian authorities have not issued any official statement on this matter.

A tanker is sailing through the waters of the Strait of Hormuz. Visual China, data map.

CCTV News also reported that on February 28th local time, according to real-time data from international tanker traffic monitoring systems, the sailing speed of tankers currently located in the waters around the Strait of Hormuz has generally dropped to zero, indicating that shipping in the region has come to a standstill. Meanwhile, governments of several European countries have issued urgent directives to their flag-carrying tankers en route, strictly prohibiting them from passing through the Strait of Hormuz to avoid the security risks arising from the current escalation of the situation.

Xinhua News Agency reported on March 1st, citing Iran's Mehr News Agency, that an unauthorized oil tanker was hit while attempting to pass through the Strait of Hormuz and is currently "sinking".

The Strait of Hormuz, connecting the Persian Gulf to the Gulf of Oman, is a global energy artery facing a rare transportation stagnation in recent years. According to previous reports by The Paper, about 20% of global crude oil is transported through this waterway, which is only 40 kilometers wide at its narrowest point. S&P Global Energy CERA analysis suggests that recent Iranian exercises have led to brief closures of the Strait of Hormuz, but with limited market impact. Escalation of military conflict or a prolonged closure of the Strait of Hormuz could disrupt energy flows throughout the Middle East.

According to data from COSCO Shipping's platform "ShipView" as of 3:00 PM on March 1st, most ships in the Strait of Hormuz area have turned around. A total of 73 ship transits were recorded in the Strait of Hormuz (in the last 24 hours).

In response to the current security situation, several global shipping companies have quickly taken precautionary measures, recently issuing announcements to suspend vessel passage through the Strait of Hormuz to fully ensure the safety of crew, vessels, and cargo.

According to a compilation by reporters, Mediterranean Shipping Company (MSC), the world's largest shipping company by capacity, announced on its official website on March 1st local time that given the evolving security situation in the Middle East and the restricted maritime traffic in the Strait of Hormuz and Bab el-Mandeb Strait, MSC has instructed all vessels currently operating in the region and those en route to the area to proceed to designated safe havens until further notice.

Additionally, on March 1st, Mediterranean Shipping Company announced that given the evolving security situation in the Middle East, MSC has suspended all bookings for cargo destined for the Middle East globally until further notice. The company will continue to closely monitor the situation and cooperate with relevant authorities to ensure operational safety. Once the security situation improves, the company will immediately resume bookings for cargo to the Middle East.

Regarding operations in the Red Sea/Gulf of Aden, the latest update on the official website of global logistics giant Maersk shows that it is closely monitoring the escalating military conflict in the Middle East and coordinating all actions in the region with security partners. Ensuring the safety of employees, assets, and customer cargo is its top priority, and it will continue to monitor the situation and take all necessary measures. The current situation remains fluid, with air freight operations affected and port operations in some areas experiencing disruptions. The company will make decisions on vessel routes on a per-ship basis, will continue to inform customers of the latest developments, and will notify them of any specific changes as soon as possible. Cargo reception in the Middle East remains open.

Local time on February 28, French shipping group CMA CGM announced on its official website that, in view of the evolving security situation in the Middle East and maritime traffic control in the Strait of Hormuz, the group will continue to take all necessary measures to ensure the safety of vessels and customer cargo. Effective immediately, all vessels within or en route to the Strait have been instructed to proceed to a safe area for evasion. In addition, passage through the Suez Canal is suspended until further notice; relevant vessels will be rerouted via the Cape of Good Hope. Once alternative ports for unloading are identified, the group will contact customers immediately.

Local time on March 1, German container shipping company Hapag-Lloyd issued a statement on its official website stating that, in view of the ongoing conflict in the Middle East and the escalating regional security situation leading to the closure of the Strait of Hormuz by relevant authorities, Hapag-Lloyd announces the suspension of all vessel passage through this waterway until further notice. Furthermore, the statement also points out that shipping services calling at ports in the Arabian Gulf may experience delays, rerouting, or schedule adjustments. The company is working to minimize the impact and will notify affected cargo of any significant changes as soon as possible.

In addition, Hapag-Lloyd also issued a notice on the same day stating that due to the escalation of military conflict and deteriorating security situation in the Middle East, the Suez Canal route operations passing through the Bab el-Mandeb Strait are temporarily suspended. Until further notice, all voyages on the IMX route will be rerouted via the Cape of Good Hope.

On February 28, Israeli-based shipping company ZIM announced on its official website that, despite the escalating security situation in Israel and surrounding areas, all functions at ZIM headquarters are operating normally to ensure business continuity. Currently, operations at Israel's Ashdod Port and Haifa Port are proceeding as usual. ZIM vessels are calling at Israeli ports as scheduled, and therefore the company will continue to accept bookings to and from Israel. For cargo already booked to and from Israel, the company expects to deliver as planned.

Previously, several shipping companies had recently issued statements regarding route diversions.

Maersk issued a notice on February 27th local time stating, "We are currently facing sudden restrictions in the operational environment in the Red Sea region. After communicating with our security partners, we have learned that these restrictions will lead to unavoidable schedule delays. Therefore, we have decided to reroute some recent voyages of the ME11 and MECL services from the Suez Canal to the Cape of Good Hope. This adjustment is a temporary measure taken due to sudden restrictions in the operational environment in the Red Sea region. For all other MECL and ME11 voyages, we will continue to prioritize the Suez Canal route, as it remains the fastest, most sustainable, and most efficient way to serve our customers."

Hapag-Lloyd issued a statement on February 27th local time, stating that it is facing some unforeseen restrictions due to the overall operational environment in the Red Sea region. Therefore, it has decided to reroute some voyages of the IMX service from crossing the Suez Canal to the Cape of Good Hope. For all subsequent voyages, the Suez Canal route will continue to be prioritized.

According to a research report released by CICC on March 1st, transportation restrictions in the Strait of Hormuz will drive adjustments in the freight rates of the crude oil transportation market, especially for VLCCs (Very Large Crude Carriers). On the demand side, after crude oil exports from the Middle East are blocked, Asian buyers' demand will shift to the Atlantic Basin, lengthening voyage cycles and occupying more capacity. On the supply side, restrictions on tanker scheduling in the Persian Gulf, decreased fleet turnover, and increased insurance premiums due to shipping risks will affect freight rate benchmarks. The market will evolve in three stages: short-term freight rate volatility, medium-term VLCC capacity tightness driving freight rates up, and later, concentrated demand release after transportation restrictions are lifted, leading to further freight rate adjustments. It is necessary to track Brent crude oil prices and be vigilant about the economic fluctuations caused by persistently high oil prices, which could impact oil consumption and, in turn, the tanker transportation market.

On March 1st, a research report from Dongxing Securities indicated that the Strait of Hormuz is the only waterway from the Persian Gulf to the Indian Ocean. A blockade of the strait could temporarily trigger a rush for oil or ships, leading to a rapid increase in oil and shipping prices influenced by panic. Furthermore, if the issue of safe passage through the strait cannot be resolved quickly, it could lead to more serious consequences. Even though some crude oil from Saudi Arabia and the UAE can be transported by pipeline to bypass the strait, the pipeline's capacity is clearly insufficient to compensate for the deficit caused by the closure of Hormuz. The global energy supply structure might be forced to be reshaped, though the probability of this happening is low. Regardless of the subsequent outcome, the escalation of the situation has further fueled short-term panic. VLCC freight rates are highly likely to remain in a "crazy" state in the near future until the situation shows a more definitive easing.

The WeChat official account of the "China Shipowners Association" issued a notice on February 27th stating that starting from June 2025, the China Shipowners Association will continue to carry out ship information monitoring in the waters of the Gulf of Oman, the Strait of Hormuz, and the Persian Gulf. In view of the ongoing changes in the situation in Iran and the escalating security situation in the Strait of Hormuz, in order to further implement the monitoring work, comprehensively and accurately grasp the dynamic information of ships navigating the waters of the Gulf of Oman, the Strait of Hormuz, and the Persian Gulf, and maintain navigational safety, all shipping companies and crew management companies are requested to continue reporting the dynamic information of ships navigating the waters of the Gulf of Oman, the Strait of Hormuz, and the Persian Gulf to the China Shipowners Association upon receiving this notice.

Pengpai News reporter Shao Bingyan

(This article is from Pengpai News)