Page 13: of Maritime Reporter Magazine (October 2026)

Legal Beat

THE NEW RULES OF MARITIME

RISK MANAGEMENT

By Jason P. Waguespack and Fraser K. Mitchell s the con? ict between the United States and increasing tension as the U.S., China, India, and other pow-

Iran continues its seemingly never-ending dance ers compete in industries such as semiconductors, arti? cial between smolder and blaze, the prolonged clo- intelligence, petrochemicals, natural gas, and automobiles.

A sure of the Strait of Hormuz has captured the Maritime chokepoints vary in their capacity to disrupt attention of maritime businesses seeking relief from the cur- maritime trade. A blockage of the Strait of Malacca, similar rent turmoil and insight into the next geopolitical upheaval. to the disruption affecting the Strait of Hormuz, would

Assuming current trends continue, international relations have serious economic consequences. However, vessels also appear to be moving toward more protectionist, nation- could still reach their destinations by taking a longer route focused trade policies and away from the previous paradigm around the corridor separating Malaysia and northern In- of globalism. Maritime businesses and insurers should fa- donesia. Such a disruption would increase freight costs, miliarize themselves with the world’s major chokepoints and voyage times, and exposure to other perils at sea.

prepare for potential disruptions or blockages. Determining which aspects of marine operations de-

The U.S. Energy Information Administration de? nes pend on a maritime chokepoint allows businesses to assess maritime chokepoints as “narrow channels along widely operational and logistical risks proactively. Planning for used global sea routes.” The Strait of Hormuz, a narrow bottleneck disruptions requires evaluating a business’s sen- passage between Iran and the Omani Musandam Peninsu- sitivity to delays and the extent to which its operations and la, has caused considerable and intractable economic hard- growth depend on an uninterrupted chokepoint. Because ship because it is among a small group of major choke- maritime chokepoints are not a new phenomenon, risk points with no practical alternative route. management should center on proactive planning rather

The second Trump administration has taken steps to than reactive measures. reestablish U.S. in? uence over the Panama Canal, North

America’s infamous manmade chokepoint. Questions have National and International Sanctions also emerged about the stability of the Strait of Gibraltar, The current international trade environment illustrates the passage separating Spain and Morocco that connects the the need for maritime businesses to monitor relevant sanc-

Atlantic Ocean and the Mediterranean Sea. In Southeast tions and implement effective compliance and risk-man-

Asia, the Straits of Malacca and Taiwan have come under agement procedures. (Continued on page 28) a subsidiary of BioMicrobics, Inc.

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