Three Shipping Chokepoints Seized Up at the Same Time

Shipping chokepoint disruption now hinges on security, not price, as vessels wait for naval escorts and war risk cover before sailing. In a conversation with Mike Castle, Senior Commodities Economist at StoneX, Tom Beney, StoneX SVP of Ocean Freight, breaks down why ships are holding back from the Strait of Hormuz, the Red Sea, and the Black Sea all at once. Beney explains how Red Sea Houthi attacks threaten oil flows out of Saudi Arabia, and why the Sea of Azov and Black Sea grain exports from Russia and Ukraine are moving only a trickle. Beney also walks through what a war risk clause does inside a shipping contract, and why Novorossiysk, Russia's main export port, is loading only during daylight hours. Discover Actionable Insights with StoneX Market Intelligence: https://shop.stonex.com/collections/all?utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_tom_beney&utm_content=share U.S. Corn Exports Gain From Shifting Global Trade: https://www.stonex.com/en-us/insights/u-s-corn-exports-gain-from-shifting-global-trade/ Watch the full conversation: https://www.youtube.com/watch?v=2e05Jvjpalo 0:00 Three Sea Lanes Seize at Once 0:13 Why Hormuz Slowed to a Trickle 1:12 Red Sea Threats Hit Saudi Oil 1:48 Black Sea Grain Under Fire 2:39 War Risk Keeps Ships in Port Like and subscribe for more financial market insights. #StoneX #OceanFreight #CrudeOil #TomBeney #MikeCastle