Shipping firms reap huge profits despite heightened Hormuz dangers
Fewer vessels are navigating the Strait of Hormuz, but those that do or use alternate routes are seeing profit spikes, while attacks have caused casualties.
The war has limited the number of ships that can safely cross the Strait of Hormuz, creating lucrative opportunities for operators willing to assume the risk or to reroute. Saudi carrier Bahri disclosed a sixfold increase in quarterly earnings, and ADNOC Logistics & Services reported its profit rose fourfold to $951 million in Q2. Two of ADNOC's vessels were hit in July, resulting in one fatality and several injuries. Higher charter fees and a larger fleet underpinned the earnings surge, and the firm plans to spend $2.3 billion this year on additional tankers while raising its profit outlook again.
Why it matters
Rising profits show how conflict-driven shipping risks can reshape global trade economics and safety.
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