When the Strait of Hormuz closed to safe passage in the wake of the Iran war, the ancient logic of maritime trade reasserted itself: distance is cost, and cost is opportunity. Shipping stocks, long ignored by mainstream investors, have surged to decade highs in 2026 as tankers reroute around Africa, tightening vessel supply and inflating freight rates across every cargo class. The market is pricing not merely a disruption, but a possible permanent reordering of how the world moves its goods — and investors are betting on the friction itself.