Major shipping companies are refusing to participate in a US military-guided transit scheme through the Strait of Hormuz, signaling a deepening crisis in global energy logistics.
Sources indicate that carriers are rejecting the proposed convoy system due to heightened safety concerns following a recent surge in Iranian attacks on commercial vessels navigating the critical chokepoint.
The refusal by key market participants to join the US-led initiative undermines efforts to normalize traffic flow through the strait, which handles roughly a fifth of the world's oil supply.
With commercial operators unwilling to commit to the military-escorted routes, the risk premium on energy flows is likely to persist, keeping pressure on freight rates and crude benchmarks.
This development follows a period of escalating tensions, including recent US strikes on the Iranian port of Sirik, which further complicated the security environment for maritime traffic.
The combination of direct military action and the failure of the escort scheme to gain industry traction suggests that the Strait of Hormuz remains a high-risk zone for global trade.