Cancellations of container imports through the Strait of Hormuz have surged to record levels, as the conflict in the Persian Gulf spreads, according to data and analytics firm Dun & Bradstreet, which tracks shipping container bookings.

Meanwhile, Iran's General Sardar Jabbari said that Tehran will now "not let a single drop of oil leave the region," reports BBC News. 

Blocking the strait could further inflate the cost of goods and services worldwide, and hit some of the world's biggest economies, including China, India and Japan, which are among the top importers of crude oil passing through the waterway.

On March 3 alone, 21,762 TEUs were cancelled, more than double any single-day total recorded since early 2024, signaling a sharp disruption in planned shipments through one of the world’s most critical trade routes.

New import bookings have collapsed while cancellations spike, the firm’s analysis shows. Between March 1 and 3, import booking volumes fell 59% compared to the prior week, while cancellations jumped 364%. Bookings on March 3 totaled just 1,915 TEUs — only 13% of volumes recorded one week earlier, indicating shippers are rapidly pulling back from planned shipments.

Export shipments from the Gulf are also slowing, as uncertainty over the war with Iran rises. Export bookings have dropped more than 40% since mid-February, and on March 3 cancellations exceeded bookings for the first time, with 1,319 TEUs cancelled vs. 1,095 booked. Dun & Bradstreet says that’s a signal that exporters are beginning to pause shipments as regional tensions escalate.