Reopening strait of Hormuz would have limited impact on cargo flows, says Maersk

Maersk CEO stated that the reopening of the Strait of Hormuz would have a limited impact on cargo flows, amid rising energy costs. Fuel bills have nearly doubled due to the conflict, adding $500m in monthly costs, which is being passed on to customers through higher freight rates. The situation remains critical with over 800 ships stranded west of the waterway.