Global energy markets are grappling with a new layer of shipping risk: the possibility that the Strait of Malacca could become subject to transit fees similar to those proposed by Iran for the Strait of Hormuz.
The prospect has triggered fresh anxiety among traders and logistics planners who already face elevated costs and route disruptions in the Middle East.
The concern stems from reports that Iranian officials have floated the idea of charging vessels for passage through the Hormuz, a narrow waterway that handles roughly a fifth of the world’s oil supply.
While the feasibility and enforcement of such a toll remain uncertain, the mere suggestion has been enough to keep a risk premium on Brent crude.
Now, market participants are worried that the model could be replicated at the Strait of Malacca, the critical artery connecting the Indian and Pacific Oceans.
The Strait of Malacca is already under strain.