Oil prices have dropped to near pre-war levels due to a U.S.-Iran truce, but strategists warn markets are overly optimistic. Persistent supply challenges, high shipping costs, and Iran's leverage over the Strait of Hormuz are expected to hinder normalization, keeping prices range-bound.
Container shipping costs from South Korea to the Middle East increased for the third consecutive month in May, reaching 6.81 million won for a 40-foot container, amid ongoing tensions involving Iran.
Container shipping costs from South Korea to the Middle East increased by 22.8% in April to 6.43 million KRW ($4,290), driven by prolonged geopolitical tensions, while costs to Europe, China, and U.S. coasts showed varied changes.
China’s export sector showed strong resilience last month, with the total value of outbound shipments hitting a monthly record even as the Strait of Hormuz crisis during the US-Israeli war in Iran showed little sign of abating after driving up energy and shipping costs. The value of China’s exports rose in April by 14.1 per cent, year on year, to US$359.44 billion, according to data released by the General Administration of Customs on Saturday. The reading was above the 6.96 per cent growth...
China’s export sector showed strong resilience last month, with the total value of outbound shipments hitting a monthly record even as the Strait of Hormuz crisis showed little sign of abating after driving up energy and shipping costs. The value of China’s exports rose in April by 14.1 per cent, year on year, to US$359.44 billion, according to data released by the General Administration of Customs on Saturday. The reading was above the 6.96 per cent growth forecast compiled by financial data...
China’s export sector showed resilience last month, even as the Strait of Hormuz crisis showed little sign of abating after driving up energy and shipping costs. The value of China’s exports rose in April by 14.1 per cent, year on year, to US$359.44 billion, according to data released by the General Administration of Customs on Saturday. The reading was above the 6.96 per cent growth forecast compiled by financial data provider Wind. Meanwhile, the value of imports grew by 25.3 per cent last...
SEOUL, May 8 (Yonhap) -- South Korea will exempt additional shipping costs from ...
The UN refugee agency says the Iran war has pushed shipping rates up by nearly 18%, severely impacting aid delivery to refugees across Africa and the wider region. Transport capacity has dropped from 97% to 77% since January, with some routes more than doubling in cost. The agency is rerouting cargo via Jordan's Aqaba and the Cape of Good Hope, adding up to 25 days to delivery times. UNHCR needs $8.5 billion for this year but has only received 23% funding.
The Strait of Hormuz has become the hinge point between war and peace in the Gulf, with roughly a fifth of global oil and gas trade passing through it. Iran seeks to charge tolls to fund post-war reconstruction, while most of the world views it as international waters requiring open transit. The article argues that if no credible arrangement emerges, every future US-Iran dispute risks becoming a naval crisis, making Hormuz central to ending the current war.
