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MARITIME SECURITY

Low-angle view of a large commercial vessel’s bow cutting through rough seas beneath heavy clouds, with waves crashing against the hull

Decks and Deals Weekly #47

The week of 21–28 June 2026 delivered a drone strike on a trapped Evergreen vessel, a 39% VLCC rate collapse, container shipping’s third-largest spike in history, and a ceasefire that kept shooting

Container ship navigating rough seas at dusk under dark clouds, with waves and low light creating a tense maritime atmosphere

The end of free navigation

From the pandemic to the Black Sea, the Red Sea, and now the Strait of Hormuz, the sea is no longer the stable space of circulation that global trade once took for granted

Official Iranian Notice to Mariners S. 09/2026 dated 17 April 2026, showing the text and navigational chart of two designated one-nautical-mile transit corridors for commercial vessels crossing the Strait of Hormuz, issued by Iran’s Ports and Maritime Organization under IRGC Navy authority

One nautical mile

Iran declared the Strait of Hormuz open for commercial shipping — then reversed course thirty hours later. The Notice to Mariners it published tells a different story than the headlines did