Iran Deal Gives Little Relief to Freight Industry: Thomas Black

The global freight market has been navigating turbulent waters for more than six years — a pandemic boom and bust, Russia’s invasion of Ukraine, Houthi rockets that practically shut down the Suez Canal, last year’s tariff onslaught and now the blockade of the Strait of Hormuz.

The turmoil isn’t likely to let up. President Donald Trump’s ceasefire agreement with Iran is only a framework that leaves the tough details for later. Trump is fixated on reopening the Strait of Hormuz — the shipping gateway for about 20% of the world’s oil production — as soon as possible to reduce gasoline prices and cool ...