When risks collide
The world's shocks are arriving together. Its institutions are not built for that.
On 27 March 2026, the IRGC announced the Strait of Hormuz closed to any vessel going to and from the ports of the United States, Israel and their allies. Around 20,000 mariners and 2,000 ships were stranded in the Persian Gulf. Major container lines including Maersk, CMA CGM, and Hapag-Lloyd suspended transits. Carriers that had cautious…
