The effective closure of the Strait of Hormuz in early March has driven Asian buyers to look for alternative sources to replace disrupted Persian Gulf barrels.
The Trump administration is pushing to bring about political and economic reforms to the island via a combination of sanctions, cutting off its access to energy supplies.
The bridge, named after the late Canadian hockey player who starred for the Detroit Red Wings, was built to reduce shipping congestion in a region that lives on trade.
The tankers boom, and the potential for it to seed the next downturn, was a constant talking point at the industry’s biennial Posidonia gathering in Athens, June 1-5.
While the Houthis’ statement doesn’t amount to a ban on commercial shipping in the Red Sea, maritime intelligence agency Vanguard Tech advised caution.
As companies incorporate AI into workflows, they’re finding this comes with costs, especially if employees use it heavily or for tasks involving large amounts of data.
The XLR delays would represent another hurdle for IndiGo’s ambitious international expansion, which is under pressure from soaring jet-fuel costs and airspace restrictions.