Overview
- United Nations monitors said Monday the waterway remains virtually shut, with daily ship transits plunging from about 130 in February to single digits in March.
- Goldman Sachs warned the final pre-war tanker deliveries are arriving and flagged a growing risk of physical shortages, as prices for key fuels like jet and marine bunker have spiked.
- A limited trickle of vessels has crossed under Iranian exemptions, including some Iraqi and Asian tankers, yet overall flows remain scant as shippers and insurers hold back.
- Aid groups report rising costs and long delays that cut their reach, with UNICEF adding about 10 days and 20% to vaccine shipments and the World Food Program citing tens of thousands of tons of food stuck in transit.
- Governments are rerouting and using reserves to cope—Taiwan is redirecting Saudi crude via Red Sea ports and Australia says supplies are secured into May—but officials caution damaged facilities and safety checks mean tight markets even after any ceasefire.