Kolkata, New Delhi, INDIA. New York, USA.
Business Aajkal, New York, 02 March 2026: Amid rising tensions in West Asia following US–Israel strikes against Iran, a leading Indian-American maritime executive has warned about the risks to the vital oil shipping route of the Strait of Hormuz and the possible ripple effects on global oil prices.
“Shipping Is the Hardest-Hit Industry”
Dr S. V. Anchan, Chairman of Safesea Group, told to the press that geopolitical turbulence directly impacts maritime trade.
“Shipping is the hardest-hit industry in any such turbulence in the geopolitical situation.”
He stressed that ensuring uninterrupted movement through the Strait of Hormuz is critical:
“The Strait of Hormuz must not be allowed to be shut down.”
Why the Strait of Hormuz Matters