The Increasing Costs of Air Shipments
Air freight rates are surging due to restricted airspace over several Middle Eastern countries.
The narrow strait of water putting oil prices and freight costs on the brink
Iran's threats to disrupt shipping in the Strait of Hormuz raise concerns about potential spikes in global oil and gas prices, affecting economies worldwide, including Australia's.
Maritime insurers cancel war risk cover in Gulf as Iran conflict disrupts shipping
Leading maritime insurers have cancelled war risk coverage for vessels in the Gulf due to the escalating conflict with Iran, disrupting shipping routes and increasing freight costs.
Freight rates increased by 40% to move products from Colombia to Ecuador before tariffs
Merchants and producers expedited shipments of goods in anticipation of a 30% security fee and tariffs imposed between Ecuador and Colombia, leading to a surge in freight costs.