29 Jun 2026: Shipping Rackets and Sea Mines: The New Normal in Hormuz after 17 Weeks
In this episode of What's Going no With Shipping?, we hit week 17 of the ongoing crisis in the Strait of Hormuz. Despite talk of ceasefires and memorandums of understanding, the reality on the water remains volatile. We dive into the latest vessel attacks, the surge in Iranian oil exports, and the growing complexity of navigating these vital shipping lanes. From the “racket” of new transit fees to the threat of 80+ sea mines, we break down why a return to “normal” is still far on the horizon.
Key Highlights
⚓Fragile Ceasefire: Recent attacks on the container ship Ever Lovely and the tanker Kiki highlight the instability of the current US-Iran pause in strikes.
⚓Iranian Oil Surge: Following a US Treasury waiver, unsanctioned Iranian crude is flowing freely even as other shipping faces continued disruption.
⚓Transit “Rackets”: Discussion on the new Persian Gulf Strait Authority (PGSA) and potential coordination between Iran and Oman to impose new fees and insurance requirements.
⚓The Mine Threat: The IMO estimates at least 80 mines are currently in Hormuz shipping lanes, complicating the return of commercial traffic to the central corridor.
⚓Escalating Costs: Cargo rates for tankers in the region have spiked significantly, with some benchmarks reaching nearly nine times their normal value.
In this Week 18 recap of the crisis in the Strait of Hormuz, Sal Mercogliano breaks down a week of “red cards,” maritime disruptions, and unravelling propaganda. From the July 4th shipping halt to the debunking of Iranian claims about the grounded ship Arista, we look at why the global shipping market is sitting on a dangerous precipice.
Key highlights in this episode:
⚓The “Red Card” Mystery: President Trump talks FIFA and Iran, while underscoring the real-world tensions in the Strait...and on the pitch.
⚓July 4th Disruption: Analysis of the aborted convoy attempt and why traffic suddenly turned around on Independence Day.
⚓Propaganda Debunked: Step-by-step proof that the Iranian story regarding the grounded ship Arista is complete BS.
⚓Global Energy Impact: Why record-low oil storage levels mean even a small “wrench in the works” could cause a massive price spike.
⚓The Human Cost: An update on the 8,000 seafarers still stranded and the resurgence of piracy off the coast of Yemen.
https://www.youtube.com/watch?v=tzo4tW1NMYU