Ships keep transiting Strait of Hormuz driven by energy demand
Even after a recent ship sinking and another vessel getting hit, ships are still moving through the Strait of Hormuz, a crucial route for oil and gas heading to Asia.
Turns out, the world's demand for energy is so high that some operators aren't backing down, even with the risks.
As Collin Koh, a senior fellow at Singapore's S. Rajaratnam School of International Studies, puts it, "I don't see in the short term, that Singapore flagged ships or Singapore shipping companies would necessarily avoid taking the transit if there is an opportunity."
Major container lines still avoid Hormuz
With oil prices up, shipping companies see enough profit to take on the danger.
Singapore's foreign minister quoted the official as saying, "Sometimes you get hits, but it is still worthwhile to run the 'Hormuz shuttle,'"
The Singapore Shipping Association says we'll probably see some changes in how ships move through the area, but major container shipping lines are still away from the strait.
For now, business keeps flowing because energy needs just won't wait.