Conflict Escalated, The Israeli Wharf Shut Down, And Maersk Closed Its Ashdod Office in The Second-largest Port.

The situation has been escalating since the massive clashes between Palestine and Israel on October 7, which led to the closure of the port of Ashkelon, 10 km north of the border with the Gaza Strip.

Chevron also informed us that it had received instructions from Israel's energy ministry to shut down the Tamar gas field off the country's northern coast after Hamas launched a surprise attack on Saturday.

It is understood that although the ports of Haifa and Ashdod are still open, the shipping company Maersk told the media that it has closed its office in Ashdod, the country's second-largest port, while its offices in Tel Aviv and Haifa remain open.

The latest news from charter platform Shipfix said: "While the direct impact on shipping and commodities may be limited, diplomatic and other developments in the wider region may have a long-term impact and may affect seaborne trade."

Analysts at Fearnleys believe the war is unlikely to directly affect the shipping market. However, Den Norske Securities outlined some indirect effects, including the unlikely possibility of lifting sanctions on Iran. More alarmist is Arctic Securities's Ole-Rikard Hammer, who said in a report to clients that "the history of conflicts in the Gulf of the Middle East shows that concerns about oil shortages can lead to higher tonnage demand. The impact on freight depends on the conflict and the basic market background. Under such circumstances, we think the tanker market is very tight. Seasonal demand is rising, and the war between Israel and Hamas is expected to increase it. We expect the VLCC market to see the greatest impact."

According to the latest news released by Israeli media and Palestinian medical institutions on the 11th, more than 2100 people have been killed since the outbreak of a new round of conflict between Palestine and Israel.