Iran's Shipping Companies Report Surge In Freight Traffic Along Gulf Routes

(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 28. Maritime freight costs along certain routes through the Persian Gulf and the Gulf of Oman have doubled, Masoud Polmeh, secretary of Iran's Association of Shipping Companies, told reporters, Trend reports.

According to him, operational costs for shipping firms, excluding fuel, have risen by around 20% over the past year.

“When fuel prices are factored in, the minimum operating costs for shipping companies exceed 50%. As a result, costs for customers have increased by at least 100%, and in some cases, freight rates have surged by as much as 270%,” Polmeh noted.

He attributed the sharp rise in expenses to the ongoing military escalation involving the U.S. and Israel against Iran, which has driven up both oil prices and maritime transport costs. Additional risk premiums have further compounded the financial burden on shipping operators.

Since no concrete agreement was reached in negotiations between the United States (US) and Iran over the nuclear program, the US and Israel began military airstrikes against Iran on February 28. In response, Iran launched missile and drone attacks on Israel and US military facilities located in countries across the region, starting the same day.

On the first day of the air strikes against Iran, Iran's Supreme Leader Ayatollah Seyyed Ali Khamenei and several high-ranking military officials were killed. On March 8, Iran's Assembly of Experts elected Seyyed Mojtaba Khamenei as Iran's third Supreme Leader by majority vote.

From March 1 through March 5, the confrontation expanded further, affecting several countries across the Middle East.

According to information, the U.S. side suffered losses of 13 dead and more than 140 wounded.

The ongoing conflict has significantly threatened the region's energy infrastructure and maritime transport. Oil prices have surged on global markets due to heightened security tensions around the Strait of Hormuz, prompting several countries to advise their citizens to leave the region.

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