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Iran Conflict Rattles Global Trade: Shipping Costs Soar, India Faces Economic Impact
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Iran War Shakes Global Trade: Shipping Costs Soar, India Faces Impact
C
CNBC Awaaz
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04-03-2026, 21:25
Iran War Shakes Global Trade: Shipping Costs Soar, India Faces Impact
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US-Iran conflict escalates global trade concerns, especially in the Gulf region.
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War-risk insurance premiums for ships surged 5x in 48 hours, now 1% of ship value.
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Shipping costs increase by millions of dollars per voyage due to heightened risk.
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Iran's threat to block Strait of Hormuz, a vital oil transit route, fuels tension.
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India faces higher oil prices, import costs, and inflation due to rising shipping expenses.
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