From Churchill and Nuuk to Murmansk, Arkhangelsk and Kamchatka, a network of ports, railways and maritime gateways is beginning to reshape the geography of Arctic trade.
The Strait of Hormuz is open, but it is no longer operating like a normal maritime corridor.
Ships are still moving through the waterway, crude and LNG cargoes are still flowing, and tankers are both entering and leaving the Gulf. But the deeper signal is now found in the details: which vessels are willing to sail back in, which routes they use, whether AIS remains visible, and how ownership, insurance and state influence shape each transit.
This report looks beyond the open-or-closed narrative and examines Hormuz as a live test of maritime confidence, corridor control and geopolitical risk. The key question is not only whether ships can pass, but who is willing to enter, under what conditions, and through whose shadow.
Dean Mikkelsen is Founder and Editorial Director of Power & Corridors. Based in Abu Dhabi, he focuses on geopolitical risk, maritime security, trade corridors, energy, logistics and critical infrastructure.
Bab-el-Mandeb remains navigable, but selective tanker disruption, rising insurance pressure and shifting Saudi energy flows are creating a more complicated commercial risk picture.
