Despite opening of Hormuz, crisis on oil supply chain, shipping companies are still scared, know the whole matter!

The Strait of Hormuz is considered to be the most important oil route in the world. It passes through the Persian Gulf and is an important route for global oil supply. Even if the Strait of Hormuz is fully opened, oil prices and shipping problems will not be solved. Iran has already blocked this strait and now America is also talking about its blockade. If stress increases, problems may worsen. But in this situation, what will happen even if the strait opens?

Experts believe that opening Hormuz may allow ships to move out, but the real solution will not come until the empty ships come back inside. The biggest concern for shipping companies is that they will be hesitant to send their ships into the Persian Gulf unless they are sure that the ceasefire will be long-term.

According to Lale Akoner, global markets analyst at eToro, a mere two-week ceasefire will not give shipping operators the confidence they need. No tanker owner or insurance company would be willing to send their ship into the Gulf unless they were confident that their ship would not remain stranded there.

At present, the effect of the hesitation of shipping companies is clearly visible on the supply chain. Matt Smith of Kpler company says that earlier more than 100 oil tankers used to pass through this route every day, but now this number has come down to less than 10. As a result, there is a slowdown in trade and a shortage in supply. So even if the Strait of Hormuz opens, global oil supplies and supply chains for other critical goods will not be able to recover unless shipping companies and other businesses can be confident of operating safely within it.