ONE CEO: About 10 per cent of global container fleet caught in Hormuz backup

Container ships account for roughly 100 of the 750 ships ensnared in the Strait of Hormuz backups following US and Israeli attacks on Iran, Jeremy Nixon, CEO of container carrier Ocean Network Express (ONE), said on Monday.

"About 10 per cent of the container ship global fleet is caught up in this," Nixon said at SP Global Market Intelligence’s TPM26 container shipping conference in Long Beach.

Maritime insurers ceased covering voyages through the strait between Iran and Oman, which carries around one-fifth of oil consumed globally as well as large quantities of gas, as Iran retaliated against US and Israeli strikes.