Today's Supply Chain Pulse
U.S.-Iran Interim Deal Reopens Hormuz, Eases Oil Supply Strain
The United States and Iran signed an interim peace memorandum that normalizes traffic through the Strait of Hormuz, ending the naval blockade. President Trump warned that strategic petroleum reserves are draining fast, with Cushing, Oklahoma inventories just above 20 million barrels, the lowest level in years. The agreement also lifts Treasury waivers and releases roughly $24 billion in frozen assets.
Also developing:
By the numbers: USA Rare Earth secures $1.6B federal funding under CHIPS Act
Hormuz Reopen Fuels US Stock Rally, Nasdaq Extends 13-Day Streak
Iran announced the Strait of Hormuz is fully open, triggering a surge in US stock futures. The S&P 500 rose 1.2% and the Nasdaq logged a 13‑day winning streak, while crude oil tumbled more than 10% to about $81 per barrel.
Aircraft and Maritime Tracking From Space as a Business Service
Space‑based tracking has evolved from a niche surveillance technology into a multi‑billion‑dollar business service for aviation and maritime sectors. Providers such as Aireon and Spire now sell real‑time ADS‑B and AIS data bundled with analytics that support airline operations, port...
Brookfield Properties Breaks Ground on $104 Million Industrial Campus in Chicago’s Back of the Yards
Brookfield Properties has started construction on Western Works, a $104 million, four‑building industrial campus in Chicago’s historic Back of the Yards district. The project will add 87 dock doors, 635 parking spaces and generate roughly 250 jobs, signaling renewed private investment...
ITM Power Partners with Rheinmetall on Giga PtX Synthetic Fuel Network
ITM Power plc and Rheinmetall AG have signed a strategic collaboration to develop the Giga PtX project, a Europe‑wide network of decentralized synthetic‑fuel plants for NATO. Each plant will host up to 50 MW of electrolyser capacity, delivering 5,000‑7,000 tonnes of...
Chef Robotics Hits 100 Million Servings Milestone, Aims to Scale Kitchen Automation
Chef Robotics announced it has crossed 100 million robot‑served portions, marking a breakthrough after early‑stage failures in food‑service robotics. The company now serves large manufacturers and an airline catering giant, positioning itself for broader market expansion.
The Price of War
The Strait of Hormuz, a chokepoint that moves roughly one‑fifth of the world’s oil, has been effectively shut after Israel’s heavy strikes on Lebanon and U.S. sanctions on non‑Iranian tankers. The closure coincides with a fragile cease‑fire and a U.S....
UAFL Adds Sohar Call to Middle East Express Service
United Africa Feeder Lines (UAFL) is expanding its Middle East Express (MEX) service by adding a call at Sohar, Oman. The feeder line already links key Indian and Pakistani ports with the Seychelles, Comoros and Mozambique, and now includes Sohar...
For Paid Subscribers on This Gray, Surprisingly Cool Day.
Iran’s parliament speaker publicly rejected U.S. claims that the Strait of Hormuz is fully open and that a nuclear‑dust deal is imminent. The Iranian foreign minister later confirmed that commercial traffic will resume on a coordinated route for the duration...
Iran to Prioritise Strait of Hormuz Passage for Vessels that Pay Fees
Iran announced it will give priority to vessels that promptly pay security and safety fees for crossing the Strait of Hormuz, while postponing passage for ships that refuse. The policy follows Tehran’s re‑imposition of strict military control after accusing the...
Naphtha Crunch Bites Japanese Companies Despite PM's Assurances
Japanese manufacturers are confronting a sharp naphtha shortage that is driving up prices for a broad array of plastic‑based products, from bathtubs to detergents. Prime Minister Sanae Takaichi has assured the public that Japan holds a four‑month supply, but industry...
Rupee Depreciation Forces Indian Firms to Adopt Yuan Payments, Boost Local Sourcing
Indian manufacturers are increasingly paying Chinese suppliers in yuan to offset the rupee’s 4‑5% slide against the dollar. Companies such as PG Electroplast and Super Plastronics have begun yuan‑based settlements, while Godrej Appliances is exploring the option. Retailer Lifestyle has...
Wholesale Diesel $2 Cheaper—Truck Stops Won’t Pass Savings
The spread of retail to wholesale fuel is almost $2.00 a gallon. This is the second-highest spread we have ever measured. What this means: Large carriers buy their fuel on wholesale rack arrangements and pay a floating index price (OPIS)....
Land Routes in Eurasia Still Economically Unviable
Worked on Eurasian connectivity pretty extensively in the 2000s ... not new and land transport is a good idea, especially if you are sitting in the heart of Eurasia, since it helps break you out of the perverse economic effects...
Rotterdam Bunker Volumes Fall as Fossil Fuels Drive Decline
Bunker sales at the Port of Rotterdam fell about 25% in Q1 2026 versus the same period a year earlier, driven primarily by a sharp drop in fossil fuel deliveries. Very‑low‑sulphur fuel oil (VLSFO) plunged 44%, while high‑sulphur fuel oil (HSFO)...
Flatbed Demand Soars, yet over Half of Loads Rejected
Flatbed is "industrial trucking" and the vibes are very strong. Flatbed rejections are above 54% - more than half of all flatbed truckloads are being rejected. The flatbed industry is enjoying strong tailwinds from data centers, power plants, transmission lines,...
Iranian Gunboats Fire on Indian-Flagged Ships in Strait of Hormuz
Iranian Revolutionary Guard gunboats opened fire on two Indian‑flagged merchant vessels transiting the Strait of Hormuz between Qeshm and Larak islands, prompting India to summon Iran's ambassador for urgent diplomatic talks. The incident occurred without reported casualties, though a nearby...
Inside the Race to Control the World’s Lithium Supply
Lithium production has exploded from 31,500 tonnes in 2015 to an estimated 290,000 tonnes in 2025, fueling a $150 billion battery market that grew 20% year‑over‑year. China now dominates both mining and refining, projected to control roughly half of the global lithium market...
Mac Mini and Mac Studio Supply Shortages
Apple’s Mac Mini and Mac Studio are facing acute supply shortages, especially high‑memory configurations. The base M4 Mini with 32 GB RAM and the M4 Pro with 64 GB are listed as unavailable, and other Mini models see shipping delays of one...
Why Oil Prices Spike Before Supply Breaks (Strait of Hormuz Explained)
Oil prices often surge before any physical disruption in the Strait of Hormuz because market participants price the perceived risk of delayed or rerouted shipments. Recent Iranian military tightening and vessel warnings have heightened uncertainty, prompting insurers to raise premiums...
UPS Cargo Jet Averts Runway Collision at Louisville Hub After Small Plane Intrusion
A UPS Boeing 767 was forced to abort its landing at Louisville's Muhammad Ali International Airport after a small plane entered the runway, prompting a go‑around that averted a collision. No injuries were reported, but the incident revives safety concerns...
Iran's Hormuz Threat Sparks Global Energy Equipment Shortage
Iran warned it will shut the Strait of Hormuz if the U.S. blockade continues, prompting markets to brace for a cut in about 20% of global oil transit. The disruption has already tightened supply chains for oil‑field equipment, spare parts...
Mississippi Liquor Backlog Hits 172,000 Cases as Warehouse Software Glitch Stalls Deliveries
Mississippi’s sole alcohol distributor is still wrestling with a backlog of roughly 172,000 cases after a warehouse software failure slowed shipments to an average 17 days. Retailers blame the Iowa‑based Ruan Transport for the glitch, while lawmakers consider new facilities...
Industrial Demand Surges While Multifamily Remains Soft in U.S. Commercial Real Estate
BMO Capital Markets reports that industrial real estate saw accelerated demand in 2025, driven by manufacturing rebounds and data‑center expansion, whereas multifamily properties face headwinds from stagnant population growth, creating a mixed outlook for U.S. commercial real estate investors.
Traders Bet $760 Million on Oil Decline Ahead of Iran’s Hormuz Announcement
Traders collectively placed $760 million in short positions on oil futures and options ahead of an expected Iranian announcement regarding the Strait of Hormuz. The bet reflects market anxiety over potential supply disruptions and underscores the role of derivatives in managing...
Loop Secures $95 Million Series C to Power Predictive AI for Global Manufacturers
Loop announced a $95 million Series C round led by Valor Equity Partners and the Valor Atreides AI Fund. The funding will accelerate hiring and integration of AI across ERP and transportation systems, positioning Loop as an intelligence layer for enterprise...
Fresh Attacks Shatter ‘Open Hormuz’ Narrative as Iran Pushes New Maritime Regime
On April 18, three separate incidents—including a projectile strike on a containership, gunfire from IRGC‑linked gunboats on a tanker, and a near‑miss near a cruise ship—were reported off Oman, shattering the narrative that the Strait of Hormuz is fully open....
Asian Currencies Squeezed by US‑Israel‑Iran Conflict as Oil and LNG Prices Spike
The escalation of the US‑Israel‑Iran conflict has pushed oil to $110‑$116 a barrel and LNG up 143%, triggering inflation, industrial slowdown and sharp foreign‑exchange pressure across Asia. Central banks in Japan, South Korea and the Philippines face tighter conditions as...
LME Index Hits Record as Aluminium Supply Fears Surge
The London Metal Exchange's composite index reached a new all‑time high, up roughly 12% over the past month. The rally is powered by a 15% jump in aluminium prices, sparked by Iranian attacks on key smelting facilities amid the ongoing...
Great Food Fuels a Wave of LCAC Deliveries
For a month we ran exercises off a 1000’ ship anchored near Camp Pendleton. The Marines descended on our galley like a pack of starving rats. And like rats, they went back and told all their friends how good the food...
Vessels Attacked as Iran Reasserts Control of Hormuz
On Saturday, two commercial vessels were attacked in the Gulf of Oman, prompting alerts from the UK Maritime Trade Operations. The incidents followed Iran’s announcement that it would reassert strict military control over the Strait of Hormuz, despite earlier assurances...
The Medicine Is Running Out. This Is What Abandonment Looks Like.
On April 1, the U.S. State Department ordered the Global Health Supply Chain program—running since 2016 and responsible for delivering more than $5 billion in HIV and malaria medicines to 90 countries—to shut down by May 30 with no transition plan....
Ships Abort Hormuz Transit Attempts
At least 21 vessels attempting to exit the Gulf of Oman were forced to reverse course after Iran reinstated strict transit controls in the Strait of Hormuz. The reversal followed a brief reopening announced by Iranian Foreign Minister Seyed Araghchi...
Intel's Packaging Wins Set Stage for Wafer Deals
Intel has made great strides. I was one of the only analysts that gave them a shot when the company had been written off for dead by most. They’re definitively getting advanced packaging from big XPU players. I called this...
Product Tankers Exit Hormuz Amid Iran U‑turn
Three clean oil product tankers successfully exited the Strait of Hormuz on April 18 despite Iran abruptly reversing its earlier pledge to keep the waterway open for managed passage. All three vessels are flagged as high sanctions‑risk by Windward, yet...
MAGPIE Project Showcase Port Innovation and Sustainability
The EU‑funded MAGPIE project opened a public exhibition at Portlantis, the interactive experience centre at the Port of Rotterdam. The showcase displays tangible innovations—including an offshore charging system, a hybrid shunting locomotive and automated truck‑charging infrastructure—through physical models and augmented‑reality...
MODEX 2026: MyBull Showcases Indoor-Outdoor Automation Technologies
MyBull Robotics showcased two new autonomous machines at MODEX 2026, unveiling the TMN-FP20 two‑ton forklift and the TMN‑T50US five‑ton AMR‑capable tugger. Both units are engineered for seamless indoor‑outdoor operation, featuring sensor‑fusion navigation that eliminates the need for QR codes or...
Some Key Notes on the Strait of Hormuz Standoff
Iran’s Islamic Revolutionary Guard Corps (IRGC) re‑closed the Strait of Hormuz, overriding the civilian government’s position. The post highlights Iran’s fragmented power structure—an ayatollah, a civilian administration, and a semi‑autonomous IRGC—making coherent policy difficult. It argues that the U.S. Navy’s...
Gord Magill Wrote the Book Trucking Needed
Gord Magill’s new book, “End of the Road: Inside the War on Truckers,” offers a first‑hand exposé of the trucking industry’s systemic decline. Drawing on three decades behind the wheel, Magill traces deregulation, wage compression, fabricated driver‑shortage narratives, and a...
Iran's Hormuz Control Threatens Global Energy Security
Security of Global Energy System Hinges on Iran If Iran asserts sovereignty over the Strait of Hormuz, the dominoes begin to fall as other supply chokepoints are contested. PS - This morning, Iran resumed control of tanker traffic in the Strait #iranwar https://markhamhislop.substack.com/p/security-of-global-energy-system
Indian Vessels Hit as Iran Shuts Hormuz, Modi’s Diplomacy Questioned
🇮🇳They told us Prime Minister Modi cut a deal and his diplomacy was paying off. Now Indian ships are being attacked. What’s going on? Two Indian Ships Are Fired On As Iran Says the Strait of Hormuz is Closed
Manufacturing Rebound Driven by Imports, Not Tariffs
There's a stealth manufacturing recovery underway, evident in output, not jobs. Don't credit tariffs; the strongest growth is in sectors with little tariff protection, and strong imports: AI-related computers, electronics, etc; and aerospace. https://t.co/jqdZIRreAO
Factory Output Rises While Jobs Keep Falling
JUST IN: Factory output is surging and could accelerate, even as jobs decline steadily, driven by strong demand.
India's Cabotage Reversal Threatens Sri Lanka Transshipment Role
Serious question: But isn't India reversing the 2018 cabotage reform? Where does that leave Sri Lanka and India in the transshipment picture?
Trucking Spot Rates Surpass 2022 Levels, No Cooling Ahead
Trucking spot rates are now above 2022 comps with no sign of cooling. Note: Diesel was higher in April 2022. https://t.co/vFlXIvLMnY
Iran Shifts Tactics: Stock Manipulation Over Oil, Gunboats Attack
Can Iranians be pumping and dumping stocks instead of oil? Iranian gunboats fire on tanker after Strait of Hormuz closed again.
Iran's New Maritime Regime Undermines “Open Hormuz” Claim
Hormuz is anything but “open”, like I said yesterday during market hours. Fresh Attacks Shatter ‘Open Hormuz’ Narrative as Iran Pushes New Maritime Regime https://t.co/7PMz5tYFgd
US Growth Rides on Fragile TSMC Dependence
With robust resilient global supply chains, American growth has seen record gains, including with 90 percent dependence on TSMC for advanced node production. No one explains how much manufacturing will strengthen the economy and at what cost, economics matter....
Kosol Energie Airlifts Solar Cells to Prevent Project Delays
Kosol Energie airlifts solar cells to avoid delays #energysky -- via pv magazine global: https://t.co/VEeqPtmnuh
Tariffs Fully Passed to Consumers, Labor Gains Negligible
Another Fed paper finds Americans paid almost all Trump's 2025 tariffs ("pass-through of realized tariffs into import prices was close to one hundred percent"), AND that local labor market effects were "economically negligible." All pain, no gain. https://t.co/FIgzz7XDAC https://t.co/SeRAnQAdLP
Direct Shipping Partners Decline, Prompting Fluid Supply Chains
This may be mapping the past. As global mistrust moves to trade supply chain fragmentation. Is a new, fluid supply chain needed?