A WTO trade tracker indicates that fertiliser and LNG shipments transiting the Strait of Hormuz have not recovered, remaining close to zero even after a memorandum of understanding reached in June aimed at guaranteeing safe passage through the waterway.
The persistence of the standstill despite the MoU suggests that shippers and cargo owners continue to view the route as too risky, regardless of formal assurances, pointing to a gap between diplomatic agreements and on-the-water commercial confidence.
For fertiliser and gas markets, continued disruption at Hormuz keeps supply risk elevated for buyers dependent on Gulf-origin cargoes, potentially sustaining freight and insurance premiums and reinforcing incentives to secure alternative sourcing or routes.
Related on gidex.com: the fertiliser desk · buying through the desk · the trading desk
Original note by GIDEX Group based on reporting by Fertilizer Daily. Written up by the GIDEX market desk — see how these notes are made. Not investment advice.
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