Navigating the Gulf crisis: key contractual issues for shipping and trade finance practitioners

To the extent not resolved by the US-Iran Memorandum of Understanding signed 17 June 2026 the escalation of conflict in the Middle East and the resulting disruption affecting the Strait of Hormuz have created significant legal and commercial challenges for participants in the shipping and trade finance markets. The region remains critical to global energy and commodity flows and any interruption to navigation port access insurance availability or payment channels can have immediate consequences for owners charterers and lenders.

Recent events have forced market participants to reassess both their contractual exposure and operational resilience. The legal consequences of delay re-routing detention or payment interruption may extend well beyond the immediate voyage and affect ongoing financing structures insurance recoveries and supply chain obligations.

Force majeure

For many parties ...