Iran’s declaration on June 20 will likely make more risk-averse shipowners with vessels that have been trapped inside Hormuz for months more wary of exiting.
DP World exited the U.S. port business in 2006 over security concerns raised by some American lawmakers citing Sept. 11 terrorists’ links to the United Arab Emirates.
Sleep Number blamed its bankruptcy, in part, on “the unpredictable shifting of trade rules imposed by the current U.S. government, on top of an already vulnerable global supply chain."
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.
The practice first emerged in the U.S. as technology companies rushed to secure generation capacity for energy-hungry data centers, and has since spread to Europe and the Middle East.