Hormuz Watch: Strait of Hormuz traffic is rebounding fast after a US-Iran ceasefire, with S&P Global citing 78 vessels crossing in a day and 551 total transits so far this month—yet analysts warn durability is still uncertain as rules and route permissions remain in flux. Policy Risk: Iran’s potential plan to levy transit tolls/fees is already raising alarms that even modest charges could lift freight, insurance, and compliance costs and feed broader inflation. Energy Markets: Crude prices slid nearly 2% as supply fears eased and Hormuz reopened, though fresh security incidents near Oman keep volatility on the table. Air Cargo Security: Liberia lawmakers have signed a resolution to suspend operations of GLS Menzies Aviation Cargo Services and Express Handling Services at Roberts International Airport pending a narcotics probe tied to alleged chain-of-custody failures. Port & Grid Logistics: Sri Lanka says seven new BESS units (280MW total) have arrived at Colombo Port for installation near key substations, aiming to discharge 70MW daily during peak hours. Trade & Corridors: Pakistan and the US agreed in principle to form a maritime working group to boost port development, logistics, and the blue economy. Shipping Competition: A US antitrust class action targets major container makers over alleged output limits and price-fixing.