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Iran says Hormuz open to all but tanker traffic collapses and India faces higher shipping costs
International
Published on 24 April 2026
Hundreds of ships idle nearby as insurers pull out
Iran claims the Strait of Hormuz remains open for all, yet tanker traffic has sharply collapsed. Hundreds of vessels are reportedly idling near the Gulf as insurers and shipowners retreat from the conflict zone, driving shipping costs higher. For India, the statement may sound reassuring, but the economic impact is already showing up in logistics and energy supply risks.
- Tanker movement through Hormuz has fallen dramatically
- Hundreds of vessels are idling near the Gulf region
- Insurers and shipowners are scaling back exposure
- Shipping costs are surging, raising pressure on India’s supply chain
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times