It appears that oil tanker companies may direct their captains to slow down to save fuel, which would cause a shortage in the supply of tankers, and higher rental rates.

They are looking at a slowdown to 12 knots from 15 knots, which would save about 20 grand a day in fuel costs.

I would imagine that we would see a similar process unfolding with container ships, and this may contribute to increased costs for non-petroleum imports too.