Escalating tension in Middle East could result in supply chain disruption , higher insurance premiums for shipping, say Malaysia industry associations
Shipping Association Malaysia chairman Ooi Lean Hin said the current geopolitical tension in the Middle East has increased the risk of navigation in the global shipping ecosystem, which is now extended to the Gulf, apart from the Red Sea. “With this move, it takes longer to reach Malaysia. Freight and insurance costs have recently increased,” he explained.
Middle East Tension Supply Chain Disruption Insurance Premiums Shipping
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