The Iran war is triggering fears of a global shipping crunch as disruption in the Strait of Hormuz squeezes supplies of the bunker fuel that powers much of the world’s maritime trade.
Ship operators rely on a heavy, sludge-like fuel known as bunker fuel to keep vessels running. The Iran war and the closure of the Strait of Hormuz have disrupted supplies of the fuel that powers much of the global shipping industry and supports Asia’s largest refuelling hub.
