Trump provided few specifics regarding the scope of the plan to assist ships trapped in the strait, or even how exactly it would work in practice.

Project Freedom was set to begin on May 4, with the U.S. military pledging to provide support, including the use of guided-missile destroyers, aircraft and drones.

Even without regulatory mandates, transportation leaders continue to integrate sustainability into their core transportation strategy.

Operational efficiency is a durable solution, as it’s where emissions reduction and cost reduction share a common foundation. 

The Houthis and Somali pirates have cultivated an alliance over the years, with the rebels at times providing technology and military backup.

This new effort does not currently involve U.S. Navy escorts, but rather a coordination process for countries, insurance companies and shipping organizations.

The case is the latest example of how oil traders and shippers are struggling to adjust to the disruption wrought by the near-closure of the Strait of Hormuz.

Khamenei stressed that Iran has no intention of relinquishing control of the Strait of Hormuz, and that the country plans to implement new legal frameworks for managing the waterway.

ONE took in $338 million in full-year net profits for the fiscal year, down from $4.24 billion the previous year.

The economist Paul Krugman, a former New York Times columnist, said he believed most analysts had been “far too sanguine” about the effects of a prolonged Hormuz crisis.