It's Not Just Hormuz: The Chokepoints Changing Global Shipping Forever with Sal Mercogliano
About this episode
Nate Hagens and Sal Mercogliano discuss the implications of geopolitical tensions on global shipping and trade, focusing on critical chokepoints like the Strait of Hormuz.
Roughly a fifth of the world's oil and more than a tenth of all global trade has been navigating a literal minefield, a wary insurance industry, and whipsawing geopolitics since late February of this year. But looking beyond the Strait of Hormuz closure itself, the same pattern threatens every critical chokepoint: passages open to all shipping for the past 80 years are becoming strategic assets within a geopolitical power struggle. If we continue this trend, what does a more fragmented, higher-cost, higher-risk maritime system mean for the norms and safety of the shipping industry, and what are the ripple effects for global trade? In this episode, Nate is joined by maritime historian and former merchant mariner, Sal Mercogliano, to break down what the ongoing events in the Strait of Hormuz reveal about the state of global shipping and trade. Sal traces how the rise of unregistered "dark fleet" tankers and increasing risk – and subsequent cost – of maritime trade are reshaping the safety and stability of shipping across the globe. He also walks through who actually "owns" the Strait of Hormuz, the improvised insurance and security arrangements now propping up tanker traffic, and…
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