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German Energy, Shipping Sectors Call for Diplomatic Action Amid Iran War
(MENAFN) According to reports, shipping and energy industry leaders in Germany are calling for stronger diplomatic efforts and policy responses as tensions surrounding the Iran conflict and instability in the Gulf region continue to disrupt global trade and energy flows.
As stated by reports, Nikolaus Schues said the ongoing war and uncertainty around the US-Iran ceasefire are already having a significant impact on international shipping markets and are affecting broader economic conditions.
He noted that freight costs are rising sharply across multiple segments, including tanker, bulk carrier, and ammonia transport markets, reflecting increased volatility in global logistics.
“The conflict has a tremendous effect on international shipping. Tanker rates are going up, bulk carriers' rates are going up. Ammonia carriers' rates are going up,” he told a media outlet.
According to reports, Schues warned that if the conflict continues, the consequences would extend beyond shipping, potentially affecting nearly all sectors of the global economy and increasing the risk of a broader economic slowdown.
He also said that even if a ceasefire between the United States and Iran is extended, restoring damaged energy infrastructure and stabilizing production would take time, keeping markets under pressure.
“The medium-term impact of this conflict will be extremely negative. Energy prices are going up, global GDP will be heavily affected. That means that there is less trade. And shipping is living off international exchange and not off protectionism,” he said, as stated by reports.
As stated by reports, Nikolaus Schues said the ongoing war and uncertainty around the US-Iran ceasefire are already having a significant impact on international shipping markets and are affecting broader economic conditions.
He noted that freight costs are rising sharply across multiple segments, including tanker, bulk carrier, and ammonia transport markets, reflecting increased volatility in global logistics.
“The conflict has a tremendous effect on international shipping. Tanker rates are going up, bulk carriers' rates are going up. Ammonia carriers' rates are going up,” he told a media outlet.
According to reports, Schues warned that if the conflict continues, the consequences would extend beyond shipping, potentially affecting nearly all sectors of the global economy and increasing the risk of a broader economic slowdown.
He also said that even if a ceasefire between the United States and Iran is extended, restoring damaged energy infrastructure and stabilizing production would take time, keeping markets under pressure.
“The medium-term impact of this conflict will be extremely negative. Energy prices are going up, global GDP will be heavily affected. That means that there is less trade. And shipping is living off international exchange and not off protectionism,” he said, as stated by reports.
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