How the Iran Conflict is affecting Lumper Services

Approximately 20 million barrels per day or oil go through the Strat of Hormuz. Supertankers today use this passage to move oil and gas from Saudi Arabia, Kuwait, Iraq, Qatar, Bahrain, the UAE, and Iran. Most of those shipments head to Asian markets, with China now the only remaining buyer of Iranian oil.

There is no TEU count officially offered, so it is hard to determine how much container freight goes through the Strat of Hormuz. So luckily this conflict in Iran should affect lumper services across the world.