‘Ships now fear crossing the Strait of Hormuz’

According to a report published on March 3, 2026, ships are increasingly hesitant to navigate the Strait of Hormuz. Professor John Gong, an economics professor at Beijing University of International Business and Economics, stated that this reluctance has significant consequences for the global economy. He warned that sustained tensions in the Strait could lead to high oil prices, which major industrialized nations would struggle to endure long-term. The Strait of Hormuz is a critical waterway for global oil transportation, and disruptions there can have widespread economic effects. The report highlights concerns about the potential impact on global energy markets.