About 10% of the global container ships caught in Gulf of Hormuz backup, ONE CEO says

By Lisa Baertlein

Container ships account for roughly 100 of the 750 ships backed up around the Strait of Hormuz following U.S. and Israeli attacks on Iran, Jeremy Nixon, CEO of container carrier Ocean Network Express (ONE), said on Monday.

"About 10% of the container ship global fleet is caught up in this," Nixon said at a container shipping industry conference in Long Beach, California.

Maritime insurers ceased 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 U.S. and Israeli strikes.