“Freight rates are volatile amid the fresh instability in the Middle East, with most tankers now avoiding the strait of Hormuz as attacks and insurance cancellations make the area increasingly unsafe.”
Insurance rates could go up by 50% to 100%, or even more, from 0.25% to 0.5% or 1% of the value of the insured asset……………….terminal container rates for Shanghai to Jebel Ali in Dubai, the largest port in the Middle East, rose from $1,800 for a 40ft container on Saturday to about $3,700 on Monday, according to the online shipping marketplace
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