June was the port's third strongest month on record, and the third time it has ever crossed the 1 million TEU threshold.

Any assets sanctioned companies hold under U.S. jurisdiction are now frozen, while U.S. businesses are prohibited from doing business with them. 

The IMO’s secretary general told Bloomberg Radio that ships should continue to avoid navigating Hormuz because of the current level of navigational risk.

The pause will apply to all new permitting for so-called hyperscale data centers, which can house 5,000 or more servers and span up to a million square feet.

For years, supply chain organizations approached demand forecasting by looking backward, with historical sales trends, seasonal cycles and prior purchasing behavior forming the foundation for most planning decisions. But in an environment shaped by geopolitical instability, tariffs and volatile consumer demand, many organizations are realizing that the forecasting models of the past simply can’t keep up with the disruptions of today.

The true test of diversification is whether the capabilities, materials and development processes behind it have truly decoupled.

Trump cited "highly productive conversations with Middle East leadership," following his initial fee proposal the prior day.

In the period between the two cordons, Tehran was able to ship at least 2.2 million barrels a day, a very high level by recent standards.

South Bow would also agree to pay another $40 million to guard against future oil spills, as well as $3 million to Kansas for environmental restoration projects.

Trump said that the he would be reinstating a blockade of the strait, and declared that the U.S. should be reimbursed for "providing safety and security" to the waterway.