Poj Aramwattananont (centre)
The Thai Chamber of Commerce is urging businesses to monitor developments in the Strait of Hormuz and be prepared to manage potential risks.Poj Aramwattananont, chairman of the chamber, said tensions in the strait are escalating again as the conflict between the US and Iran ratchets up and the ceasefire collapses.
The war has the potential to disrupt maritime transport through the Middle East, contributing to volatility in freight and insurance premiums, possibly increasing energy prices, and delaying raw material supplies for the manufacturing sector.
He said shipments are being rerouted to Khor Fakkan port in the United Arab Emirates and to the ports of Salalah and Sohar in Oman instead of transiting the Strait of Hormuz.
Shipping lines are continuously assessing the risks associated with routes through the Strait of Hormuz, resulting in only a very small number of vessels travelling through the strait.
