Shipping

Americas·9 min read

Why Trump Wants the Panama Canal

Donald Trump says China runs the Panama Canal and that the United States is taking it back. Here is what he wants, how Panama and China have answered, and what has actually changed.

Middle East·10 min read

Can Iran Close the Strait of Hormuz?

Before 2026, a fifth of the world's oil passed through one narrow channel off Iran's coast. Since the war began in February, Iran has largely shut it. How did it do it, what can get around it, and can it last?

Global·10 min read

The Chokepoints That Control World Trade

A few narrow passages carry a large share of the world's oil and goods. Here is what passes through each one, who controls it, and what has gone wrong since 2021.