US-Iran Ceasefire Framework: US and Iranian negotiators reached a tentative 60-day ceasefire extension and start of nuclear talks, with shipping through the Strait of Hormuz to be “unrestricted,” mines to be removed within 30 days, and a phased lift of the US naval blockade tied to commercial traffic—though President Trump’s approval is still pending and Iran has denied parts of earlier MoU claims. Hormuz Shipping & Security: Even with hopes of reopening, Strait of Hormuz traffic remains far below pre-war levels; brokers say restoring normal flows will require security guarantees, mine clearance, and a new war-risk insurance setup. Sanctions Hit Transport Links: The US expanded sanctions on Iran’s oil and petrochemical “shadow” shipping network, targeting firms and vessels across Qatar, Singapore, Hong Kong, the UAE and elsewhere, plus new curbs on Iran’s Hormuz transit authority and related actors. Black Sea Disruption: Russia struck Turkish-owned cargo vessels near Odesa and off Turkey’s Black Sea coast with drones, injuring crew and adding to risks for regional maritime trade. Air & Cargo Demand: IATA reported April global air passenger demand fell 3.4% YoY (first contraction since Covid), while air cargo demand rose 4.0% YoY as Gulf disruptions reshaped routes and constrained capacity. Logistics Growth in Central Asia: Kazakhstan said Trans-Caspian International Transport Route (TCIT) traffic grew sixfold since 2020, reaching 4.5m tons in 2024 and 56,500 containers, with plans to expand capacity toward 2030. Border Enforcement: South Africa intercepted a nearly R1bn methaqualone shipment at Beitbridge, arresting three Malawian nationals after scanner-detected concealed compartments.