Major shipping lines have announced a significant wave of service suspensions and cancellations affecting routes through the Strait of Hormuz. This development includes Maersk altering its plans to resume Red Sea sailings and the imposition of numerous war-risk surcharges by various carriers. The Iranian government officially declared the closure of the Strait of Hormuz yesterday, following what it described as Israeli and US-led attacks on Friday. At the time of this report, several prominent shipping companies, including CMA CGM, Cosco, HMM, MSC, ONE, OOCL, and PIL, have been impacted or have made adjustments to their services.