India expanded the pool of approved Russian providers, alleviating the shortage of insurers to provide the liability coverage tankers carrying Russian oil need to legally enter its ports.

Around 800 ships remain stuck in the Persian Gulf after traffic through the Strait of Hormuz slowed to a trickle following the outbreak of the war. 

The U.S. is apparently continuing its naval blockade on ships accessing Iran.

Tehran again shut the waterway following a refusal by the U.S. to lift its own naval blockade of Iran’s vessels.

“Would you be the first penguin off the ice floe to test the water?” one shipowner asked.

Hormuz is “open and ready for business,” Trump said on Truth Social on April 17.

The $4 million payment was up from the less than $1 million that some vessels were paying to cut in line at the Panama Canal as recently as early March.

With few signs that the Strait of Hormuz will be fully open to tankers anytime soon, islands in the Pacific face a deepening crisis with no end in sight.

No vessels made it through the blockade, which is made up of more than a dozen warships and 10,000 service personnel, according to CentCom.

Suketu Gandhi, global co-lead of the Strategic Operations and Performance practice of Kearney, covers the various factors that are causing global supply chain costs to soar.