Geopolitics boost freight rates but pose challenges to shipowners elsewhere

Geopolitical conflicts have pushed up vessel earnings while creating obstacles for shipping companies in crewing and making mid- and long-term investments, several shipowners said June 2. Freight rates in various sectors have risen as Iran seized control of the Strait of Hormuz since its war with Israel and the US began Feb. 28, limiting maritime traffic vis the choke point to 90% below theGeopolitical conflicts have pushed up vessel earnings while creating obstacles for shipping companies in crewing and making mid- and long-term investments, several shipowners said June 2. Freight rates in various sectors have risen as Iran seized control of the Strait of Hormuz since its war with Israel and the US began Feb. 28, limiting maritime traffic vis the choke point to 90% below theRead More