The shipping in the Hormuz Strait is blocked, causing a sharp increase in global shipping costs. Currently, freight rates have increased by 11 to 12 times.

The conflict in the Middle East has caused disruptions to shipping in the Strait of Hormuz, leading to 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 costs, with industry insiders indicating that freight rates have increased by 11 to 12 times. Insurance and rerouting costs are being passed on layer by layer, continuing to impact global trade and supply chain security.