Initiative will launch a “high-visibility dashboard” connecting major transportation hubs directly to ocean carriers, trucking companies, railroads and retailers, Sean Duffy said.

Chevron Corp. Chief Executive Officer Mike Wirth said there are indications that flows through the strait are probably not as high as the energy secretary said.

Opening the Strait of Hormuz remains Iran’s most valuable bargaining chip; one it seems eager to retain after seeing the drastic effect its closing has had on world trade.

The budget plan includes anticipated total operating revenues of $826 million, a 26% increase.

DCSA says the collaboration will support the development and implementation of shared industry standards aimed at improving interoperability and enabling more seamless data exchange across stakeholders.

Three foreign-flagged vessels carrying Indian crew have recently been attacked by the U.S. Navy.

The effective closure of the Strait of Hormuz in early March has driven Asian buyers to look for alternative sources to replace disrupted Persian Gulf barrels.

The Trump administration is pushing to bring about political and economic reforms to the island via a combination of sanctions, cutting off its access to energy supplies.

The tankers boom, and the potential for it to seed the next downturn, was a constant talking point at the industry’s biennial Posidonia gathering in Athens, June 1-5.

While the Houthis’ statement doesn’t amount to a ban on commercial shipping in the Red Sea, maritime intelligence agency Vanguard Tech advised caution.