Dow CEO says clearing the Strait of Hormuz logjam will take almost a year

outgoing dow ceo jim fitterling said clearing the strait of hormuz logjam will take roughly 275 days — nearly a year — even if the strait reopened today. he told jim cramer on "mad money" the timeline could stretch further given the complexity. the strait effectively shut down in early march at the start of the iran war. fitterling, retiring july 1 after eight years, said the process involves cleaning out the strait and arabian gulf and getting empty ships back in. he expects it will take "several quarters" before things return to normal. the shutdown hit dow hard: 20% of global oil capacity was shut in, but about 50% of global ethylene and polyethylene production was impacted. about 40% of naphtha used in asian and european production flows through the strait, tightening supply immediately. that drove a sharp pricing surge — 10 cents per pound in march, 30 cents in april, and another 20 cents expected in may. fitterling said it's the biggest price uplift in over a decade. dow reported solid revenue and a smaller-than-expected loss in its q1 report on april 23. shares are up roughly 65% this year.