Washington (Monitoring Desk): The International Maritime Organization has warned that nearly 2,000 ships and 20,000 crew members are trapped in the Strait of Hormuz, creating a serious challenge for the global shipping industry.
According to the organization, the longer the vessels remain stranded, the greater the mental stress, fatigue, and shortage of essential supplies for crews, increasing both human and financial risks.
The International Maritime Organization also reported that insurance companies are refusing to cover losses, with many either canceling contracts or charging exorbitant premiums.
Experts warn that if the situation is not resolved quickly, global shipping delays and economic losses are expected to rise significantly.
