The International Trade Centre has cautioned that shipping disruptions in the Strait of Hormuz are exerting downward pressure on global commerce, underscoring how dependent energy, fertiliser, and industrial material supplies are on one of the planet’s most heavily trafficked maritime passages. In a review of April 2026 trade figures, the ITC noted that exports of various key commodities experienced significant declines as the turmoil elevated costs for energy, transport, insurance, and manufacturing.

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Commodity export declines

Liquefied natural gas shipments plummeted by 95% in April, while urea fertiliser exports contracted by 83%, according to the joint World Trade Organization and United Nations body. The report highlighted that these drops were driven by the disruption’s cascading effects on operational expenses.

Recovery outlook

While a recent de-escalation of Middle East tensions has sparked optimism about a complete reopening of the Strait of Hormuz to shipping, vessel traffic has yet to return to typical volumes. The ITC said the timeline for a durable rebound remains unclear.

Impact on Japan

Japan, which obtains 91% of its crude oil imports from nations dependent on the Strait of Hormuz, saw its overall imports fall by 64% in April, the report said. The consequences reach beyond freight movement, as elevated energy prices, shipping rates, marine fuel costs, and insurance charges are inflating both production and logistics expenses.

Logistical strain Diverting ships to alternate pathways is extending transit times and intensifying bottlenecks at harbours and other trade routes, with these additional expenses eventually borne by end consumers, the ITC stated.

Agricultural risks

The agency further cautioned that climbing fertiliser prices might hamper agricultural output and push up food costs, especially in vulnerable nations that rely heavily on imports. The Strait of Hormuz disruption has laid bare the fragility of worldwide energy, fertiliser, and industrial input supply chains to a solitary maritime gateway, it added.

Source: IndexBox Market Intelligence Platform