Gulf Shipping Risk Watch: Strait of Hormuz remains “exceptionally depleted” with shipowners warning a ceasefire won’t restart trade without clear transit rules, security assurances, and workable insurance—while S&P Global Energy says reopening needs functional, insurable traffic plus a post-ceasefire observation period. Cost Pressure: Global container rates are climbing again as the fuel crisis tied to the US-Israel-Iran conflict deepens, with spot indexes showing sharp jumps since late February. Security Incident: A Panama-flagged MSC container ship was hit by an explosion off Iraq near Umm Qasr; fire was extinguished and authorities are investigating. EU Emissions Rules: The European Commission’s CountEmissionsEU standardised method for calculating freight and passenger transport greenhouse-gas emissions enters into force, aiming for comparable door-to-door reporting. Intermodal Expansion: AsstrA launches a dedicated rail link between northeastern Spain and western Poland, targeting 9–10 day door-to-door transit for short-haul corridors. Port/Logistics Disruption: Typhoon Jangmi is disrupting transport in Japan’s southwest as it moves toward Kyushu. Road & Transit Moves: France cuts air ticket tax on 26 regional routes to boost connectivity; Budapest overhauls night public transport from July 1.