The closure of the Strait of Hormuz has stranded 1,200 cargo ships carrying an estimated $125 billion worth of goods, exposing critical vulnerabilities in global maritime trade. Insurance data from Allianz reveals the unprecedented disruption following February strikes on Iran, with ships slowly resuming transit after the US-Iran peace deal. The strait normally handles 20% of the world's oil and gas, and its closure pushed crude prices above $100 a barrel while 40 ships came under missile attack and 14 seafarers were killed.

Before the conflict, 135 vessels per day moved through the waterway. The recent uptick in crossings—69 ships in the week ending June 21 compared to 24 the previous week—signals growing confidence among shipping companies. However, logistics operators anticipate 300,000 twenty-foot equivalent containers remain stranded in the Gulf, forcing reliance on longer land and sea alternatives that strain regional infrastructure.

The crisis has elevated concerns about 20,000 seafarers still anchored in the Gulf, amid a broader crew abandonment crisis that hit a record 6,000 cases in 2025. Kuehne+Nagel estimates the backlog could reshape global supply chains permanently, with operators investing in alternative Gulf entry points through the Gulf of Oman or Red Sea routes.

While energy markets have stabilized since the ceasefire, the incident underscores how geopolitical tensions at strategic chokepoints can freeze trillions in trade. Shipping executives suggest the industry may permanently diversify away from single-point dependencies, potentially reshaping decades of efficient but concentrated maritime corridors.