Plans for the TradeSailer 120 can be purchased off the shelf, allowing for immediate construction estimates and building at local shipyards.

The move underscores how the market is turning to workarounds to cope with maritime congestion due to the Iran war and an intensifying El Niño.

The risks to shipping are set to continue after Trump insisted that there were no ongoing talks with Tehran, leaving the simmering conflict in the Middle East in limbo.

Russia and Ukraine have stepped up attacks on each other’s commercial ships and ports in the Black Sea area, raising concerns about global grain supplies.

Moving forward, Seroka predicted that it will likely be "steady as it goes" for the rest of 2026, with the port expecting to handle another 900,000 TEUs in August.

The terminal will allow the port to handle massive container ships with 50-foot drafts, which in the past have been too large to navigate to the port's existing facilities.

The earnings increase come as exporters in the Persian Gulf seek more vessels to deliver the abundant crude barrels they promised to Asian buyers.

The 3,500 mile path cuts through the Arctic Circle, and more than halves the time it takes to sail between China and Europe. 

Although the coalition's efforts were largely successful in suppressing piracy over the last decade, renewed global instability has allowed the threat to reemerge.

A spokesperson for the Houthis said on social media on August 17 that the group had struck a Saudi military vessel and four escort ships at Yemen's Port of Mokha.