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EconomyJuly 29, 2026 at 10:45 PM

Çanakkale Strait Traffic Halt: Risks to Global Shipping Chains

724FinanceDr. Aslıhan Demir

Çanakkale Strait Traffic Halt: Risks to Global Shipping Chains

The temporary suspension of two-way traffic in the Çanakkale Strait poses a critical obstacle for global bulk carrier operations. The grounding of the 190-meter long PILATUS MARINE vessel, flagged under San Marino, due to engine failure has triggered rescue operations that are disrupting commercial traffic significantly.

Strategic Importance of the Strait and Impact on Supply Chains - The Çanakkale Strait handles 25% of bulk cargo traffic between Asia and Europe.

■The suspension could delay the flow of petroleum products from Syria to Russia.

■Rescue operations are expected to last at least 24 hours, leaving 150+ vessels waiting.

Market Reaction - Bulk freight prices surged by 3.5%.

■The Borsa İstanbul's BİST 100 index fell by 1.2%.

■The Euro/Dollar pair retreated to 1.1020.

Expert Analysis > This traffic halt could elevate TCMB's inflation expectations. It may also cast a shadow over the FED's upcoming rate decisions. The MSCI World index could face a short-term drop of 0.8%.