Thai Chamber of Commerce Warns to Increase Stocks Against New Tension in the Strait of Hormuz
Points clés
- The Chamber of Commerce warned that tensions in the Strait of Hormuz could affect Thai businesses.
- Maritime companies reduced the Hormuz risk by shifting their routes to UAE and Oman ports.
- Businesses were advised to monitor energy prices and strengthen their raw material stocks.
Pot Aramawatthanon, President of the Thai Chamber of Commerce, warned about a possible closure in the Strait of Hormuz following the renewed escalation of tensions between the US and Iran despite the ceasefire agreement signed in mid-June. It was stated that this situation would directly affect maritime transport, freight rates, insurance costs, and energy prices.
Shipowners rearranged their routes in the region based on lessons learned from the previous crisis; it was reported that ships are being diverted to Khor Fakkan in the UAE and Salalah or Sohar ports in Oman instead of the Strait of Hormuz. For this reason, it was noted that the number of ships currently passing through the strait is quite low.
Thai manufacturers were advised to avoid panic but monitor the situation closely, increase their raw material stocks, and make contingency plans against potential logistical crises. The Chamber of Commerce announced that it would continue collaborating with its members and official authorities to ensure commercial and energy security.
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Questions fréquentes
- How does the situation in the Strait of Hormuz affect Thai businesses?
- A possible closure could increase freight and insurance costs, drive up energy prices, and adversely affect the raw material supply for manufacturing sectors.
- What kind of measures have maritime companies taken against the Hormuz risk?
- Ship routes have been shifted to Khor Fakkan in the UAE and Salalah and Sohar in Oman instead of Hormuz to reduce the risk.
- What preparations does the Chamber of Commerce recommend for manufacturers?
- The Chamber of Commerce recommends that manufacturers closely monitor energy and logistics costs, maintain sufficient stocks, and create backup supply plans.
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