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Commercial Awareness Compass

Bottlenecked at the Strait of Hormuz and the cost to global trade

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Henry Nelson Case

Henry is a 7 year qualified commercial lawyer with experience on a whole host of commercial contracts, having gained exposure to a diverse range of work through both working in-house and in private practice. Alongside working as lawyer, Henry also creates content on social media – where he strives to promote the importance of mental health and wellbeing in the workplace and challenges toxic corporate behaviours.

Published Thu, 30 Apr

A new war in the Middle East has sent the global trading system into shock. As sustained fighting threatens to keep the Strait of Hormuz closed, the commercial world is bracing for the impact of high energy prices and new trading challenges. The sudden conflict is forcing businesses to reevaluate their supply chains and try to get out of existing contracts to avoid the shock of sudden price hikes.

For aspiring commercial lawyers, there are some key questions you have to understand. Why is the closure of a single waterway freezing international commerce? How can businesses protect themselves from disadvantageous contracts when war breaks out? And will the current energy crisis permanently accelerate the global shift toward renewable power?

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