Hormuz Strait Shipping Disruption Global Shipping Costs Soar, Current Freight Rates Surge 11x to 12x

BlockBeats News, April 3rd, the Middle East conflict has disrupted shipping through the Strait of Hormuz, causing a sharp increase in global shipping costs and a rapid rise in war risk insurance premiums for vessels. In addition, shipping companies also need to consider freight rates, with industry insiders stating that current rates have risen 11 to 12 times. The escalating costs of insurance and rerouting are continuously impacting global trade and supply chain security. (CCTV Finance)