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LE PHARE

Weekly Maritime Risk Brief

Three hundred words and one chart, every Monday. What moved on the world's sea lanes, and what it means for risk.

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The wire

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How the brief is made

Every Monday: the week's transit data from the lab, the incident record, the wire above for context, three hundred words, one to two charts. The wire is raw news; only what survives verification reaches the brief.

Open the data lab

  1. No. 4
    17 July 2026    The week the ceasefire diedHormuz clears 115 weekly transits against a ~656 baseline, hull war cover trades near five points, and the Cape has stopped being a detour — it is the network now.
  2. No. 3
    16 July 2026    Strait of Hormuz runs at 18% of normal115 weekly transit calls against a ~656 baseline; the Cape still carries 2.2× Suez's traffic.
  3. No. 2
    12 July 2026    Strait of Hormuz runs at 34% of normal225 weekly transit calls against a ~656 baseline, but the reopening is gathering pace; the Cape still carries 2.27× Suez's traffic.
  4. No. 1
    6 July 2026    The Red Sea discount is now structuralTransits through Bab el-Mandeb settle at a third of their baseline while the Cape absorbs the difference.