The Strait of Hormuz is a vital passage for world trade, notably for oil and fertilizers. Roughly 88 commercial vessels pass the strait per day, making it one of the world´s most critical maritime chokepoints.
The war presents an unprecedented challenge for the maritime industry and shipping traffic. Today, only a handful of vessels can pass while almost 500 vessels are stranded. What are the concrete effects for shipping while the strait is closed and the war is still ongoing? What are the implications for global trade in the absence of commercial vessels passing or transiting? And what will happen when the war is over?
HOST
Cecilia Malmström
Nonresident Senior Fellow, Peterson Institute for International Economics (PIIE)
GUESTS
Simon J. Evenett
Professor of Geopolitics and Strategy, IMD Business School,
Founder of St Gallen Endowment for Prosperity through Trade, University of St Gallen Switzerland
Dorota Lost-Siemińska
Director Legal Affairs and External Relations, International Maritime Organization (IMO)