By the end of April, the geopolitical tug-of-war between the United States and Iran over the Strait of Hormuz remains ongoing, and the high and volatile raw material prices are unlikely to ease in the short term. Meanwhile, frequent changes to waterway navigation rules and sharply rising shipping risks have prompted major carriers including Maersk to suspend direct routes. Vessels are forced to reroute via the Cape of Good Hope in Africa, extending transit times by 7 to 10 days and driving a sharp increase in freight rates. In addition, many shipping companies have imposed extra surcharges, such as emergency fees, diversion charges and security fees, further pushing up overall maritime logistics costs
