Shipping Industry
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Economy
War on Iran Drives Up Global Energy Costs
DID Press: The war involving United States, Israel and Iran has intensified pressure on global energy markets, pushing up marine fuel costs and keeping oil and petroleum product prices elevated. According to Reuters, marine fuel prices have risen by more…
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Economy
Strait of Hormuz Closure Leaves Stranded Ships Facing Technical Damage
DID Press: A lesser-known consequence of the closure of the Strait of Hormuz is the growing technical damage affecting vessels stranded for weeks in the warm waters of the Persian Gulf. According to a report by Financial Times, prolonged inactivity…
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