Hormuz deadlock sends Gulf container rates to record highs

The collapse of Omani-led talks to resolve the Straits of Hormuz passage, which were due to take place in Salalah yesterday, will deal another blow to Middle East shippers now struggling with the highest container shipping costs on record. The US-Israel-Iran conflict is now into its seventh month and has effectively closed the Hormuz straits to container shipping services, with beleaguered importe Read full article →