German shipping company Hapag-Lloyd has announced that it is suffering weekly losses of between $50 million and $60 million due to the continued closure of the Strait of Hormuz.
According to the company, disruption in one of the world’s most critical maritime trade routes has led to increased operational costs, delays in cargo transport, and significant pressure on global shipping activities.
The Strait of Hormuz is considered a vital passage for global energy and goods transportation, and any restrictions in this route have a direct impact on international markets and shipping companies.
Hapag-Lloyd officials have warned that if the situation continues, financial losses and disruptions to global supply chains could further escalate.