TNSC allays concerns over closure of Strait of Hormuz

The Thai National Shippers' Council says a complete closure of the Strait of Hormuz would boost oil prices.

- PHUSADEE ARUNMAS

However, negotiations are expected to address this issue and the situation will be resolved soon.

Dhanakorn Kasetrsuwan, chairman of the Thai National Shippers' Council (TNSC), said although a full shutdown of the strait could increase oil prices, the government is currently managing energy costs and he believes this issue will be settled soon.

Initially, the TNSC anticipated that major ports such as Jabel Ali, Doha and Dammam were likely to close all routes and the regional network, which would disrupt all exports to the Middle East region.

Last year, Thailand's exports to the Middle East accounted for 3.5% of total exports and disruptions could hinder overall export growth this year.