The impact on logistics has been particularly severe. Flexport CEO Ryan Petersen said that the conflict almost wiped out 18% of global air cargo capacity overnight. Flight tracking platform Flightradar24 data showed that only 81 flights were operating over the Gulf region on Saturday, compared to a normal level of about 19,000. Emirates Cargo suspended all flights, Qatar Airways Cargo halted all flights, and FedEx stopped service in six Gulf countries and Israel. Maritime shipping channels have also been disrupted. The Iranian Revolutionary Guard issued a warning that no ships would be allowed to pass through the Strait of Hormuz. As of March 1, at least 200 ships were congested in the surrounding waters. Dubai's Jebel Ali port briefly shut down after a fire caused by falling debris. Major global shipping companies quickly adjusted their strategies: MSC suspended all Middle East bookings; Maersk stopped Red Sea routes and rerouted around the Cape of Good Hope; DP World asked ships ...