The shipping situation in the Strait of Hormuz remains dire, with reports indicating that traffic has fallen by over 90% due to a standoff between the U.S. and Iran. Approximately 20,000 seafarers are stranded in the region, facing fears of missile attacks and exhaustion. Recent pledges from the U.S. to increase shipping activity have not resulted in significant changes on the ground, leaving many vessels in a standstill. The ongoing conflict has led to more than 41 security incidents reported in nearby waters, while shipping firms are grappling with the uncertainty of operations. The geopolitical turmoil has caused a ripple effect, impacting global shipping routes and oil supply, highlighting vulnerabilities in maritime logistics. As the crisis unfolds, experts warn that recovery may not come until late summer at the earliest.