The ongoing conflict between Iran and the U.S. has led to significant disruptions in global shipping, particularly in the strategic Strait of Hormuz. As Iran declares the strait closed and threatens to attack any vessels attempting to navigate through it, maritime insurers have suspended war risk coverage, causing shipping costs to surge. Approximately 10% of the global container fleet is now reportedly caught in a backup, and shipping companies are diverting vessels around the Cape of Good Hope to avoid the escalating violence. The situation remains fluid, with recent attacks from Israel and warnings from the U.S. government urging citizens to evacuate the region amid rising tensions that threaten the stability of essential trade routes.