March 2026 witnessed a severe disruption in the global ocean freight industry due to the escalation of the U.S.-Iran conflict and the subsequent closure of the Strait of Hormuz, one of the world’s most critical shipping arteries. The strait’s closure led to a sharp drop in vessel transits, with over 700 ships backed up or rerouted, affecting approximately 10% of global container fleet capacity. Major shipping lines including Maersk, MSC, CMA CGM and Hapag-Lloyd have suspended or restricted services on Gulf trade lanes, causing spot rates to surge 3 to 4 times due to capacity shortages and war risk premiums. In response, logistics providers are leveraging alternative routes, such as transshipment via UAE ports or Jeddah’s Red Sea port, to maintain cargo flows. With Ramadan concluding in mid-March, demand in Muslim-majority regions is rebounding, adding further pressure on already tight vessel space as retailers resume restocking activities.