The Iran war already has a winner: The world’s largest shipbroker notching record earnings from the ‘exceptional volatility’ in the Strait of Hormuz

During the ongoing Iran war, one company is reaping the benefits of the global trade chaos: Clarksons, the world's largest shipbroker. The U.K.-based firm reported its highest operating profit of £64.8 million ($87 million) for the six months ending June 30, a 55% increase from the previous year. CEO Andi Case credited the surge to worldwide supply chain changes due to the Iran war, resulting in increased demand for firms like Clarksons.

The company expects its full-year performance to surpass market expectations. Shipbrokers, such as Clarksons, are intermediaries between shipowners and cargo-holders, like retailers. The war has disrupted global shipping, with traffic in the Strait of Hormuz dropping from over 100 ships per day to around 33. Despite efforts for peace talks, disruptions are likely to persist, particularly with Iran's expansion of the conflict into the Gulf region.

These disruptions have resulted in higher freight rates and hedging activity. Experts attribute Clarksons' success to supply and demand dynamics: fewer ships passing through the Strait create a greater need for third parties to connect retailers with available ships. The increased cost of shipping also boosts the brokerage's share of the transactions.