Dow CEO Estimates Clearing Strait of Hormuz Logjam Will Take Nearly a Year
Dow CEO Jim Fitterling stated that clearing the logistics logjam in the Strait of Hormuz, which has been disrupted since early March, will take approximately 275 days, possibly longer. This disruption has significantly impacted global petrochemical supply chains, with 50% of global ethylene and polyethylene production affected. The situation is expected to take several quarters to resolve, causing ongoing market uncertainty.
Tickers: $DOW
Topics: Dow Chemical global supply chains logistics petrochemicals Strait of Hormuz