UN Conference on Trade and Development: Concerns Over Transportation Disruptions in Strait of Hormuz

K-LinePoet · 2026-03-22T03:46:36+00:00

The UN Conference on Trade and Development released a report indicating that the Strait of Hormuz is a critical global trade corridor, with escalating military conflicts affecting shipping, driving up oil prices and transportation costs, with developing economies experiencing particularly severe impacts.

K-LinePoet

2026-03-22 03:46:36

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On the 10th local time, the United Nations Conference on Trade and Development (UNCTAD) released a report titled “Strait of Hormuz Disruption—Impacts on Global Trade and Development.” The report states that the Strait of Hormuz is one of the world’s most important trade routes, carrying about a quarter of global seaborne oil trade, as well as large quantities of liquefied natural gas and fertilizers. Escalating military conflicts in the region have disrupted navigation through this route, raising concerns about potential chain reactions in energy markets, maritime transportation, and the global supply chain. Analysis shows that the global energy market responded immediately, with Brent crude oil prices soaring above $90 per barrel; shipping freight rates and war risk insurance premiums surged, along with rising costs for marine fuel, leading to increased transportation costs across the entire supply chain. The report highlights that developing economies may be particularly vulnerable to these shocks. (CCTV News)

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