BUSINESSJun 1 · 08:30 UTCSCMP WORLDCarol Yang

Businesses face huge spike in shipping costs as Hormuz fuel crisis deepens

Businesses globally are experiencing a significant and potentially long-term rise in shipping costs due to a fuel crisis linked to the US-Israel war on Iran. Shipping firms have introduced steep price hikes, with Shanghai's port showing a dramatic increase in container shipping prices via the Shanghai Containerised Freight Index.

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US-Israel war on IrantopicHormuz fuel crisistopicShanghaiplaceShanghai Containerised Freight IndexorganizationBusinessestopic

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