Asian countries are beginning to feel the economic consequences of escalating US, Israeli and Iranian airstrikes, while oil tankers remain stranded near the Strait of Hormuz, one of the world’s most important energy corridors.
Several shipping operators have suspended transit through the strait due to rising insurance costs and security risks.
On Monday, China described the waterway as an “important international trade route” and called for an immediate end to military operations.
Responding to a question from an Anadolu correspondent, Chinese Foreign Ministry spokeswoman Mao Ning said stability in the strait and surrounding waters is vital to global trade and called for steps to prevent further escalation.
Iranian media reported on Saturday that the Strait of Hormuz was “effectively” closed following the US-Israeli attack, although no formal blockade had been declared.
Japan and Malaysia are taking precautions
More than 40 ships linked to Japan, including oil tankers, are currently stranded in the Persian Gulf, Kyodo News reported. At least three ships stopped attempts to transit through the strait.
Japan imports about 95 percent of its crude oil from the Middle East, with most of it passing through this narrow waterway.
Malaysia has advised its ships to avoid the strait until further notice, reports Bernama.
Malaysia’s maritime department urged operators to carefully follow international safety recommendations and maintain heightened operational readiness.
Pakistan is considering contingency plans. Two crude oil tankers operated by Pakistan National Shipping Corporation remain stranded near the strait. The third ship, which began loading at the moment of the intensification of hostilities, is unlikely to set sail any time soon.
A key point in the global energy trade
Approximately one fifth of the world’s oil trade passes through the Strait of Hormuz, as well as significant amounts of liquid natural gas exports from Qatar and the United Arab Emirates.
About 20 percent of global daily oil consumption, approximately 20 million barrels, passes through this corridor. Shipping data shows that transit volumes on March 1 were down 86 percent compared to the 2026 average.
United Kingdom Maritime Trade Operations reported several maritime incidents described as attacks on Sunday.
Only Saudi Arabia and the United Arab Emirates operate pipelines that bypass the strait, but their capacity covers only a fraction of the crude oil normally transported via this route.
