5 Major Shipping Routes for Global Trade in 2023

4. Strait of Hormuz

The Strait of Hormuz connects the Gulf of Oman and the Persian Gulf, and is one of the most important choke points in the world, not to mention one of the major shipping routes for global trade in 2023. Around a third of the total global natural gas and a quarter of global oil consumption passes through the strait, which is also where the U.S. and Iranian navies engage in skirmishes, with the latter accused of attempting to seize ships entering the strait.