Pentagon Chief Hegseth Says US Blockade on Iran ‘Going Global’
Secretary of Defense Pete Hegseth speaks during a briefing on the Iran war, amid a ceasefire between the U.S. and Iran, at the Pentagon in Washington, D.C., U.S., April 24, 2026. REUTERS/Kevin Lamarque
Pentagon Chief Hegseth Says US Blockade on Iran ‘Going Global’
Reuters
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April 24, 2026
WASHINGTON, April 24 (Reuters) – U.S.
Iran Conflict Premium Fades From Asia-Europe Box Rates
Stock Photo: Anita van den Broek
Iran Conflict Premium Fades From Asia-Europe Box Rates
The Loadstar
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April 24, 2026
By Gavin van Marle (The Loadstar) – Container freight spot rates on the Asia-Europe trades largely returned to pre-Iran conflict levels this week, as container supply chains settled after the war’s outbreak and settled into what appears to be the normal seasonal slowdown.
According to the World Container Index (WCI) produced by
Drewry
, spot rates on the Shanghai-Rotterdam corridor fell 4% week on week, to finish at $2,147 per 40ft, while the Shanghai-Genoa leg declined 8% from the previous week, to end at $3,071 per 40ft.
By way of reference, on 26 February the WCI’s Shanghai-Rotterdam reading stood at $2,094 per 40ft and Shanghai-Genoa at $3,071 per 40ft.
Drewry argued that the Asia-Europe declines were “driven by weak seasonal demand and excess capacity”.
The Xeneta freight rate platform showed similar trends, according to its chief analyst, Peter Sand.
White House Extends Jones Act Shipping Waiver to August
Stock Photo: Igor Karasi / Shutterstock
White House Extends Jones Act Shipping Waiver to August
Bloomberg
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April 24, 2026
(Bloomberg) — President Donald Trump’s administration has given a 90-day extension to a shipping waiver making it easier to move oil, fuel and fertilizer around the US, marking the latest effort by the White House to counter supply disruptions tied to the
Iran war
.
The decision adds about three more months to the existing waiver that had been set to expire May 17, enabling foreign-flagged vessels to move commodities between American ports through mid-August.
Normally, under the 1920 Jones Act, goods carried by water between domestic ports must be transported on US-flagged, -built and -owned ships. Trump’s exemption temporarily removes those restrictions for coal, crude oil, refined petroleum products, natural gas, natural gas liquids, fertilizer and other energy derivatives.Play Video
The initial waiver applied to some 659 specific products identified
U.S. Targets Major Chinese Refinery and Ships in Escalating Crackdown on Iran’s Oil Trade
forces board the sanctioned stateless tanker Majestic X in the Indian Ocean during a maritime interdiction operation on April 23, 2026. The vessel, formerly known as Phonix, has been linked to Iran’s shadow oil trade. Targets Major Chinese Refinery and Ships in Escalating Crackdown on Iran’s Oil Trade
Mike Schuler
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April 24, 2026
The Trump administration on Friday escalated its “Economic Fury” campaign against Tehran, targeting one of China’s largest independent refineries alongside a new wave of sanctions on vessels and shipping firms accused of moving Iranian oil through the shadow fleet.
The U.S.
Drewry: World Container Index Down 1% Last Week
Drewry: World Container Index Down 1% Last Week
in
International Shipping News
25/04/2026
Spot rates slip again as the market remains under pressure.
Source: Drewry World Container Index, Drewry Supply Chain Advisors
Our detailed assessment for Thursday, 23 April 2026
The Drewry World Container Index (WCI) declined for the second consecutive week, down 1% to $2,232 per 40ft container, driven by lower rates on the Asia–Europe trade route. Despite higher fuel costs and earlier announced war-risk surcharges due to ongoing disruptions in the Strait of Hormuz, carriers are struggling to sustain rate increases amid weak demand.
Spot rates on the Transatlantic trade route increased in double digits this week. Although rates on this lane are typically stable, they have been rising since the end of March.
Hormuz reopening optimism shifts sentiment, but flows stay constrained
Hormuz reopening optimism shifts sentiment, but flows stay constrained
in
International Shipping News
25/04/2026
Reopening optimism has softened crude prices, but flows through Hormuz remain constrained, keeping underlying prompt tightness intact. Atlantic Basin differentials are starting to ease on weaker refinery demand and reopening expectations, though downside should be gradual with flows still limited. In the Americas, Midland arbs are improving and supporting flows to Asia, but logistical constraints are likely to cap further upside in exports.
Trading Calls
Neutral to moderately bullish Atlantic Basin sours: Asian diversification should support demand, offsetting reopening optimism and weaker prompt refinery demand.
Bearish WAF diffs: Weaker European and Asian demand should pressure premiums that look unsustainably high.
Middle East and Asia: Asian Procurement Shifts as Flows Remain Uncertain
June Brent futures settled at $90.38/bbl on Friday, the lowest in over a month, as mar
The Strait After the Ceasefire. Seven Weeks of Data from the Gulf’s Only Maritime Exit
Seven Weeks of Data from the Gulf’s Only Maritime Exit
in
International Shipping News
25/04/2026
A
XSMarine AIS-derived crossing data, collected continuously from 1 March through 21 April 2026, documents how the Strait of Hormuz has functioned – and who has been willing to use it – in the weeks since the conflict began.
From Stillness to Structure
When we published When the Gulf Went Still in early April, the defining feature of the Strait of Hormuz was absence. Crossings had collapsed to near zero in the first days of March. The 353 dry bulk and multipurpose vessels confirmed inside the Gulf by 5 March had nowhere to go.
Countries sideline Trump in moving forward on global shipping carbon price, at IMO technical talks
Countries sideline Trump in moving forward on global shipping carbon price, at IMO technical talks
in
International Shipping News
25/04/2026
Governments made progress on finalising technical elements in the Net-Zero Framework (NZF), the world’s first global carbon pricing on any polluter, at working group negotiations (ISWG-GHG-21) on 20-24 April in London.
The International Maritime Organization (IMO) debated the design and implementation of this key climate agreement, including clean energy and how to spend the $10-12bn/year worth of revenues.
At the ISWG-GHG-21, 62 countries, including in Africa, Europe, Asia, South America, and the Pacific, engaged constructively in developing various elements around the Framework’s guidelines. A majority of these countries (39) engaged specifically on the collection and distribution of revenues, which are made possible by the carbon price. These included countries who voted in favour of the delay in adoption or abstained in the vote last October.
Widening gap in container rates suggest shippers are uncertain; Strait of Hormuz closed
Widening gap in container rates suggest shippers are uncertain; Strait of Hormuz closed
in
International Shipping News
25/04/2026
Widening spreads between high and low costs for shipping containers on various trade lanes indicates uncertainty on both sides of the trade, largely because of the war in the Middle East, a market analyst said.
Lars Jensen, president of consultant Vespucci Maritime, said his focus is not just on the spreads, but in the changes of the spreads over the short term.
Jensen said the spread on the Asia-North Europe trade lane widened to $600/FEU (40-foot equivalent unit) from $500/FEU; the China-USWC spread grew to $800/FEU from $750/FEU; the southeast Asia-USWC widened to $1,260/FEU from just $850/FEU; the China-USEC grew to $980/FEU from $640/FEU; and the transatlantic westbound trade lane widened to $1,100/FEU from $840/FEU.
“This development indicates a market in which the stakeholders on both the buy and sell side are increasingly uncertain as to the conditio
Hegseth Signals Mines Remain Key Obstacle to Full Hormuz Reopening
Secretary of Defense Pete Hegseth holds a briefing on the Iran war, amid a ceasefire between the U.S. and Iran, at the Pentagon in Washington, D.C., U.S., April 24, 2026. REUTERS/Kevin Lamarque
Hegseth Signals Mines Remain Key Obstacle to Full Hormuz Reopening
Mike Schuler
Total Views: 11
April 24, 2026
Defense Secretary Pete Hegseth on Friday publicly
reinforced
that mines remain a central obstacle to restoring confidence in the Strait of Hormuz.
In a Pentagon briefing focused largely on the expanding
U.S.