The Strait of Hormuz Crisis Is Cracking the Petrodollar System
Vessels in the Strait of Hormuz, Musandam, Oman, April 27, 2026. REUTERS/Stringer TPX IMAGES OF THE DAY
The Strait of Hormuz Crisis Is Cracking the Petrodollar System
Reuters
Total Views: 0
May 18, 2026
By Ron Bousso
LONDON, May 18 (Reuters) – The U.S. dollar-dominated global oil trading system is being tested by the Iran war and the closure of the
Strait of Hormuz
, as governments in major consuming nations turn to increasingly opaque deals with Tehran and Gulf producers to secure supplies.
Since the outbreak of the war on February 28, roughly a fifth of global oil supplies from the Gulf have been disrupted, dealing a tough blow to economies, particularly in Asia, which depends on the Middle East for about 60% of its imports.
With the Hormuz blockade now in its 13th week, there are growing signs that major Asian importers are adapting to the new reality by striking direct arrangements with Gulf producers, often with Tehran’s consent, to allow vital flows of crude, chemicals and fe
Dry bulk market update: How Cape & Panamax freight markets are repricing under the new coal trade map
Dry bulk market update: How Cape & Panamax freight markets are repricing under the new coal trade map
in
Dry Bulk Market
,
International Shipping News
19/05/2026
F
reight firmness
Cape Atlantic & Pacific and Panamax Pacific all printing higher rates. Supply is being absorbed.
02
Coal demand reshaped
Strait of Hormuz disruption pushed thermal coal demand toward seaborne Asia. Panamax Pacific the immediate beneficiary.
03
Russia → Asia coal corridor
April 2026 record high.
Oil prices hover around $110 as U.S.-Iran tensions simmer after UAE drone strike
Oil prices hover around $110 as U.S.-Iran tensions simmer after UAE drone strike
in
Oil & Companies News
19/05/2026
Oil prices rose on Monday as tensions between the U.S. and Iran remained high following a drone strike which targeted a nuclear power plant in the United Arab Emirates.
U.S. President Donald Trump warned that the “clock is ticking” for Iran to accept a deal, as reports suggested that the U.S.
Iran Launches Official ‘Persian Gulf Strait Authority’ Account, Declares Unauthorized Hormuz Transit ‘Illegal’
The Malta-flagged tanker Agios Fanourios I, an oil tanker that sailed through the Strait of Hormuz, arrives in Iraq’s territorial waters off Basra,Iraq April 17, 2026. REUTERS/Mohammed Aty
Iran Launches Official ‘Persian Gulf Strait Authority’ Account, Declares Unauthorized Hormuz Transit ‘Illegal’
Mike Schuler
Total Views: 2366
May 18, 2026
The Iranian-backed Persian Gulf Strait Authority (PGSA) has officially launched a public presence on X, marking the clearest effort yet by Tehran to formalize and publicize its emerging control regime over commercial shipping transiting the
Strait of Hormuz
.
The newly launched account, operating under the handle “PGSA_Iran,” introduced itself Monday as the “official X account of the Persian Gulf Strait Authority” and said it would provide “real-time updates” on operations and developments in the strategically critical waterway.
In a second post, the organization declared itself the “legal entity and representative authority of the Islamic Republic
Massive Atlantic ‘Cocaine Highway’ Busted in European Maritime Drug Operation
Rigid-hulled inflatable boats used by suspected drug traffickers during a coordinated European maritime operation targeting the Atlantic “Cocaine Highway” between the Canary Islands and the Azores. Source: Europol
Massive Atlantic ‘Cocaine Highway’ Busted in European Maritime Drug Operation
Mike Schuler
Total Views: 1
May 18, 2026
European law enforcement agencies say they have disrupted a major transatlantic narcotics corridor known as the “Cocaine Highway,” seizing 11 tonnes of cocaine and 8.5 tonnes of hashish during a coordinated maritime operation targeting offshore trafficking networks operating between the Canary Islands and the Azores.
The two-week operation, led by Spain’s Guardia Civil and coordinated through Europol, resulted in 54 arrests and the interception of eight vessels suspected of participating in complex at-sea drug transfers designed to bypass major European ports and evade detection.
The crackdown marks the latest escalation in Europe’s growing maritime battle ag
U.S. Coast Guard’s Newest Icebreaker Returns From Arctic Patrol as U.S. Expands Polar Fleet
USCGC Storis (WAGB 21) sits hove to in the ice while conducting ice liberty for the crew in the Bering Sea, April 17, 2026. Coast Guard’s Newest Icebreaker Returns From Arctic Patrol as U.S. Expands Polar Fleet
Mike Schuler
Total Views: 0
May 18, 2026
The U.S.
NASSCO Secures $856 Million for Another Navy Fleet Oiler
The John Lewis-class replenishment oiler USNS Harvey Milk (T-AO-206) conducts a replenishment at sea with the world’s largest aircraft carrier, USS Gerald R. Ford (CVN 78), right, and the Arleigh Burke-class guided-missile destroyer, USS Ross (DDG 71), December 13, 2024. Navy
NASSCO Secures $856 Million for Another Navy Fleet Oiler
Mike Schuler
Total Views: 0
May 15, 2026
General Dynamics NASSCO has received $856 million in funding to build T-AO 217, the latest ship in the U.S.
What a Guinea Bauxite Export Cap Could Mean for Dry Bulk
What a Guinea Bauxite Export Cap Could Mean for Dry Bulk
in
Dry Bulk Market
,
International Shipping News
13/05/2026
G
uinea has long been a cornerstone of the global bauxite trade, and its rapid export growth over the past five years has been a key driver of Capesize demand and firmer freight rates.
However, the combination of a stalled Chinese aluminum industry, supply glut in the bauxite market, and conflict in the Middle East is now weighing heavily on pricing. The Guinean government is now considering a significant export cap. The change could significantly impact the dry bulk shipping market, freeing up Capesize capacity and sending freight rates falling.
China bauxite demand buoyed Guinea’s export market.
Maersk Keeping Strait of Hormuz Transits Suspended as Ceasefire Confidence Wavers
FILE PHOTO: Container vessel Maersk Hangzhou sails in the Wielingen channel, Westerschelde, Netherlands, July 15, 2018. Rene van Quekelberghe/Handout via REUTERS/File Photo
Maersk Keeping Strait of Hormuz Transits Suspended as Ceasefire Confidence Wavers
Mike Schuler
Total Views: 1
May 12, 2026
A.P. Moller – Maersk said Tuesday it is continuing to avoid transits through the Strait of Hormuz amid uncertainty surrounding the fragile ceasefire between the United States and Iran, underscoring the shipping industry’s ongoing lack of confidence in the security situation across the Persian Gulf.
In its latest Middle East operational advisory issued Tuesday,
Maersk
said the situation remains, “highly volatile,” “deeply dynamic,” and warned that “full maritime certainty” has not yet been restored.
“Volatility persists in the situation.
Bing, Bing, Gone: Is Trump Underestimating Iran’s Fast Attack Craft?
A screenshot of a video showing fast-attack craft from Iran’s Islamic Revolutionary Guard Corps Navy swarming Panama-flagged oil tanker Niovi as it transited the Strait of Hormuz, May 3, 2023. Navy Photo
Bing, Bing, Gone: Is Trump Underestimating Iran’s Fast Attack Craft?
Mike Schuler
Total Views: 886
May 12, 2026
President Donald Trump’s latest social media bravado about Iranian “fast attack ships” may play well online, but maritime security experts and even the U.S. military’s own assessments suggest the threat posed by Iran’s swarm-boat tactics is far more serious than the memes imply.
The White House on Tuesday amplified a stylized image shared by Trump depicting U.S.