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.

The associations urged the Trump administration to maintain a tripartite, cross-border, tariff-free deal.

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.

Despite the weaker earnings outlook, Barry Callebaut said that it expects sales volumes to recover in the second half of the year.

The aim is to eventually create a contiguous corridor between southern Europe and the Persian Gulf.

TSMC also warned of potential long term impacts to profitability from the ongoing war in Iran, which has impacted the global supply of chemicals used in chipmaking.