The Thai Chamber of Commerce is urging businesses to monitor developments in the Strait of Hormuz and be prepared to manage potential risks.
Poj Aramwattananont, chairman of the chamber, said tensions in the strait are escalating again as the conflict between the US and Iran ratchets up and the ceasefire collapses.
The war has the potential to disrupt maritime transport through the Middle East, contributing to volatility in freight and insurance premiums, possibly increasing energy prices, and delaying raw material supplies for the manufacturing sector.
He said shipments are being rerouted to Khor Fakkan port in the United Arab Emirates and to the ports of Salalah and Sohar in Oman instead of transiting the Strait of Hormuz.
Shipping lines are continuously assessing the risks associated with routes through the Strait of Hormuz, resulting in only a very small number of vessels travelling through the strait.
"Businesses should not panic, but instead monitor the volatile and unpredictable situation," Mr Poj said.
He advised companies to keep a close watch on energy prices, transport costs and logistics expenses, while maintaining adequate inventories of raw materials and finished products to meet demand.
Businesses should prepare contingency plans to secure alternative sources of raw materials and goods in case of future shortages.
Companies are advised to work closely with shipping lines and logistics service providers to identify the most efficient and cost-effective shipping routes through the Middle East, said Mr Poj.
The chamber is ready to coordinate with the government and relevant agencies to help mitigate the impact of the Middle East conflict on Thai companies, he noted.
