The annual meeting of the Association of Southeast Asian Nations (ASEAN), to be held in Cebu on Friday, comes amid mounting pressure on member states following the closure of the Strait of Hormuz, a key transit route for the majority of Asia’s crude oil and liquefied natural gas imports.

Marcos said discussions would center on strengthening regional preparedness, stabilizing energy supplies and accelerating diversification efforts to reduce reliance on external sources vulnerable to geopolitical shocks.ASEAN’s 11 member states are among the most affected by the disruption, with many heavily dependent on Middle Eastern energy imports.

The Philippines, which relies almost entirely on the region for crude oil, declared a national energy emergency in March after fuel prices more than doubled.Supply shortages have also been reported in Cambodia, Laos, Myanmar and Thailand, with fuel stations in some areas forced to suspend operations.

Rising energy costs have driven up production and logistics expenses, weakened currencies and slowed economic growth across the region.The summit is expected to address coordinated responses to the crisis, including maintaining open trade flows and avoiding restrictive measures that could exacerbate shortages.

“What do we do? How can we help each other?” Marcos said in earlier remarks, adding that the meeting would focus on oil, food security and the welfare of migrant workers.Philippine Foreign Affairs Assistant Secretary Dominic Xavier Imperial said leaders were expected to issue a joint statement outlining collective measures to manage the crisis and strengthen long-term coordination.

Regional officials have highlighted the need for deeper cooperation, including sharing energy reserves and pursuing joint exploration projects, to reduce dependence on supply routes such as the Strait of Hormuz.

“The protracted Middle East conflict has had an impact on the region, slowing down economic growth and lowering projections,” said Tereso Panga, head of the Philippine Economic Zone Authority, noting that closer coordination could help stabilize supply and mitigate volatility in energy markets.

The statement from Seoul followed a call by US President Donald Trump urging South Korea to participate in efforts to escort commercial shipping through the waterway, a critical route for global energy supplies.

South Korea’s defense ministry said it would “carefully review our position” without committing to any deployment, adding that its decision would take into account international law, maritime safety, the alliance with the United States, and security conditions on the Korean Peninsula.

An explosion and fire were reported on Monday aboard the Panama-flagged cargo ship HMM Namu while it was anchored near the United Arab Emirates within the strait. All 24 crew members, including six South Korean nationals, were unharmed, according to the foreign ministry.

The cause of the incident remains under investigation, with South Korean authorities saying the extent of the damage will be assessed after the vessel is secured.

Trump said the incifent should prompt Seoul to join US efforts, suggesting the vessel may have come under Iranian fire, although this has not been independently confirmed.The Strait of Hormuz has seen sharply reduced shipping activity since late February due to ongoing hostilities involving Iran, effectively disrupting a key artery for oil exports.

The United States has launched a naval initiative aimed at guiding stranded vessels through the area, amid reports of repeated maritime incidents and exchanges between US and Iranian forces.

South Korea, which depends heavily on Middle Eastern energy imports, said it is participating in international discussions on ensuring safe passage through the strait. Officials also emphasized that any decision on involvement would reflect broader strategic and legal considerations, including domestic procedures.

The incident highlights growing risks to commercial shipping in the region, as governments weigh responses to protect trade routes while avoiding deeper military entanglement in the conflict.

Flight bookings to Spain jumped 32% year-on-year as of April 2, with hotel searches up 28%, data from travel marketing firm Sojern showed. Portugal recorded a 21% increase in flight bookings and a 16% rise in hotel searches over the same period.

The surge reflects a broader reallocation of global travel demand, with tourists avoiding regions impacted by the ongoing Iran war and related instability.

Travel analytics company Mabrian reported a pullback in demand for Middle Eastern destinations alongside increased interest in southern European markets, with Spain emerging as the primary beneficiary.Destinations in the eastern Mediterranean have been particularly affected.

Cyprus has experienced a wave of cancellations following a drone strike on a British air base in early March, underscoring the spillover effects of the conflict on regional tourism.Industry group Exceltur has raised its outlook for Spain’s tourism sector since the conflict began on Feb. 28, projecting real growth of 2.5% in 2026, up from an earlier estimate of 2.4%.

The sector is expected to generate 227 billion euros ($267 billion), with diverted tourist flows contributing an estimated additional 4.2 billion euros.“Summer holidays are planned months in advance.

As destinations that attract large numbers of tourists are affected by the conflict, a significant part of this safe-haven effect is already materializing,” said Oscar Perelli, vice president of Exceltur.Spain’s tourism sector, a key driver of economic growth, continues to outperform many European peers.

The country received a record 97 million visitors last year, reinforcing its position as one of the world’s most visited destinations.Hotel association Cehat expects occupancy rates to rise by up to 3% during the summer, with increased demand for locations perceived as distant from conflict zones, including the Canary Islands.

However, the group cautioned that overall travel volumes could still be affected by broader economic and geopolitical uncertainties.Airlines have responded by increasing capacity, with seat availability rising nearly 6% year-on-year in April, according to Spain’s tourism agency Turespaña, particularly on routes from the United States and Britain.

Despite the positive outlook, industry officials warned that escalating risks tied to energy markets and transport routes could disrupt forecasts. The Strait of Hormuz, a critical corridor for global oil and gas shipments, remains a key variable, with ongoing disruptions during the Iran conflict raising concerns over fuel costs and long-haul travel reliability.

“It will all depend on what happens in Hormuz, because all these forecasts could go out the window,” said Jorge Marichal, president of Cehat.

A prolonged Middle East conflict has disrupted gas supplies to India’s industrial sector, forcing glass manufacturers in Firozabad to scale back operations and lay off workers, highlighting vulnerabilities in the country’s energy-dependent manufacturing base.

Known as India’s “Glass City” with a centuries-old tradition of glassmaking, Firozabad has seen production decline sharply as furnaces reliant on continuous high-temperature gas supply operate below capacity. Industry participants said the disruption has hit during a peak production period, compounding economic losses.

Glass furnaces require temperatures above 1,000 degrees Celsius to maintain molten consistency, making uninterrupted gas supply essential. Supply cuts exceeding 20% since early March have reduced output by about 40%, according to furnace operators, reflecting the disproportionate impact of energy shortages on production.

The disruption is linked to the ongoing conflict involving Iran, which has strained energy markets and supply chains. India’s dependence on imported gas has made its industrial base particularly exposed, with authorities prioritising household and essential usage when supplies tighten.Workers have borne the immediate impact.

At one unit that employed more than 500 workers until last month, fewer than 200 remain on payroll, according to furnace operator Somesh Yadav. Across the city, smaller workshops have shut operations temporarily as they await stable fuel availability.

The glass industry in Firozabad employs around 200,000 workers directly, according to the Uttar Pradesh Glass Manufacturers’ Syndicate, with total employment rising to approximately 500,000 when indirect roles are included. Industry officials warned that prolonged disruption could lead to widespread job losses.Rajkumar Mittal of the industry group said the continuation of current conditions could erase the production cycle for the season, which typically runs from March through August.

This period is crucial for fulfilling export orders tied to major retail cycles in Western markets.Manufacturers reported a sharp decline in output and exports. Mukesh Kumar Bansal, a local exporter supplying markets in the United States and Europe, said his factory’s production had dropped by more than one-third, with no shipments leaving in March.

Industry estimates suggest glassware exports fell by as much as 20% last month, despite earlier projections of annual growth.Logistics disruptions have compounded the crisis. India relies heavily on Gulf shipping routes, which have become costlier due to higher freight and insurance charges linked to the conflict.

Shipping a 40-foot container to Europe has risen by more than 60%, exporters said, while shipments to Gulf markets have stalled entirely.Economists have pointed to broader risks for India’s trade flows. Sonal Varma of Nomura described India as highly vulnerable to disruptions in the Strait of Hormuz, a key artery for energy and trade.

Manufacturers reported consignments stranded at ports, including Mumbai, as transport costs surged and routes were rerouted.The impact has extended beyond glassmaking. Textile exporters in Karur and manufacturers in other sectors such as machinery and auto components have also reported rising freight costs and falling shipments. Stiffenbabu Raju of Home Lines Textiles said container costs had more than tripled within weeks, forcing the suspension of exports as buyers resisted price increases.

Industry bodies estimate that about 17% of India’s more than 20 million small manufacturing and exporting units are facing sharp increases in input and logistics costs. K.E. Raghunathan of the Association of Indian Entrepreneurs said many businesses risk closure if conditions persist, with significant employment implications.State-run GAIL Gas said in a statement that supplies to Firozabad and nearby industrial areas continued under allocated volumes, with availability exceeding consumption.

The company added that some customers may have reduced offtake due to prevailing uncertainties rather than supply restrictions.The disruptions come as India seeks to raise manufacturing’s share of gross domestic product to 25% from about 17%, a target that analysts say could be challenged by prolonged energy and trade volatility.

Data from HSBC showed India’s manufacturing activity falling to a four-and-a-half-year low in March, reflecting weakening demand and supply-side constraints linked to the conflict.