Shipping through the Strait of Hormuz is obstructed, causing a sharp surge in global shipping costs, with current freight rates increasing by 11 to 12 times.

The Middle East conflict has disrupted shipping through the Strait of Hormuz, causing a sharp rise in global shipping costs, with war risk insurance premiums for vessels increasing rapidly. Additionally, shipping companies need to consider freight costs; industry insiders say that current freight rates have increased by 11 to 12 times. The layered transmission of insurance and rerouting costs continues to impact global trade and supply chain security. (CCTV Finance)

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