Middle East conflict disrupts shipping through the Strait of Hormuz, global freight rates surge by 11 to 12 times

GateNews

2026-04-03 10:31:48

Gate News message, April 3, due to the conflict in the Middle East, shipping through the Strait of Hormuz has recently seen severe disruptions, and global shipping costs have spiked sharply. War-risk insurance premiums for vessels have risen rapidly, and industry insiders say that freight rates are currently up by 11 to 12 times. Insurance costs and detour expenses are being passed down layer by layer, and they are continuing to disrupt global trade and supply chain security.

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