US EditionIran war disrupts global ocean freight and air cargo supply chains beyond oil
About 4% of global ship tonnage is idle in the Persian Gulf, forcing longer routes and surcharges that raise costs and risk shortages of key goods, experts say.
- The Iran conflict has halted oil tankers in the Strait of Hormuz, with Iran warning it will attack ships and cargo ships stuck in the Gulf or rerouting around Africa.
- A range of products from the Middle East and Asia face delays as marine insurers raise rates and shippers add fuel and "war-risk" surcharges.
- Clarksons Research estimates about 3,200 ships, or about 4% of global ship tonnage, are idle inside the Persian Gulf, including about 1,231 operating only within the Gulf, while about 500 ships wait outside, adding 10 to 14 days and roughly $1 million in fuel per ship for reroutes.
- On Tuesday, President Donald Trump proposed political risk insurance for tankers via the U.S. International Development Finance Corp. and said the U.S. Navy could escort ships with at least eight destroyers and three littoral combat ships in the region.
- Air cargo constraints impact about 35% of world trade value because closed Middle Eastern airspace has stranded cargo, risking shortages and price rises if conflict persists.
62 Articles
62 Articles
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