Middle East conflict disrupts shipping operations.

This year, before the United States and Israel launched military strikes against Iran, shipping insurance brokers and the general market in London were quoting rates of around 0.2% to 0.3%. For example, war risk insurance premiums for a container ship worth $150 million passing through the Strait of Hormuz once would be around $375,000 to $450,000. After the US and Israel launched military strikes against Iran, the related insurance costs for ships quickly increased, and shipping prices also soared, disrupting the operations of the related ships. Neil Roberts, head of maritime and aviation business at the UK P&I Club, stated that the specific increase in insurance premiums depends on the type of vessel and the specific circumstances, but media reports put the premiums at around 1% to 3%. However, the actual situation may vary. You may have heard these numbers, and in some cases they are indeed accurate, but insurance costs are only a small part of shipping operation costs, as shipping companies also need to consider freight rates. Currently, freight rates have increased by 11 to 12 times, in addition to fuel costs and the costs of delays caused by ships rerouting.