Live Updates > Live Update Details
2026-04-05 09:13:19
[Soaring Diesel Prices Force Half of Fishing Vessels to Cease Operations: Thailand's Fisheries Severely Hit by the Strait of Hormuz Shock] ⑴ Soaring diesel prices are severely impacting Thailand's multi-billion dollar fishing industry, a direct consequence of Iran's retaliation for the US and Israel's blockade of the Strait of Hormuz. ⑵ According to the Thai National Fisheries Association, half of the country's massive fishing fleet has ceased operations, and the association warns that without government intervention, the remaining vessels will soon be grounded as well. ⑶ For this industry, which employs hundreds of thousands of people from deep-sea fishermen to high-end restaurants, this could be a devastating disaster, as the energy shock from upstream in the supply chain is spreading downstream. ⑷ Boat owners say they are bearing record diesel costs for their vessels, with prices exceeding 45 baht per liter (approximately US$1.38) last week, more than 30% higher than pre-war levels, while they still have to pay crew salaries. ⑸ The plight of Thailand's fishing industry reflects the global spillover effects of the Strait of Hormuz blockade, with energy-dependent economies facing pressure from industrial to consumer sectors.
