What is the current shipping status in Hormuz?
According to Freightos, the waterway reopened in June after a U.S.-Iran memorandum, but recovery is being slowed by mine risk, limited usable lanes, fluctuating security conditions, and vessel-routing constraints. Freightos said overall traffic has improved versus wartime lows, but remains well below pre-war levels.
| Item | Freightos update |
|---|---|
| Update date | July 7, 2026 |
| Strait status | Technically reopened |
| Recovery pace | Weeks to months, not immediate |
| Container-market effect | Gulf routing still disrupted; broader market mainly hit through fuel costs |
Why does this still matter if the strait is open?
Because "open" is not the same as "normalized." Gulf cargo is still relying in part on alternative ports in the UAE, Oman, and Saudi Arabia plus longer inland trucking legs, which means delay risk and elevated inland costs can persist even without a full closure.
What does the update imply for freight rates?
Freightos said emergency fuel surcharges helped push transpacific rates up by about $1,000 per FEU during the first two months of the war, and that bunker prices remain above pre-war levels even after easing. That suggests some pressure can fade later, but Gulf-linked lanes may normalize much more slowly than headline oil prices.
What Shippers Should Do
- Keep routing flexibility for Gulf cargo instead of assuming direct normal service is fully back.
- Recheck landed-cost models that depend on bunker charges falling quickly.
- Separate Gulf-bound shipments from broader transpacific planning because recovery speeds are different.
- Build extra time into any cargo plan that still depends on inland moves from alternative regional ports.