Keyword: "shipping costs"

International container shipping has been affected by escalating conflicts in the Middle East, which have disrupted several major trade routes. Some vessels are unable to pass through the Strait of Hormuz, forcing carriers to reroute their services.

Imports to Malaysia are being delayed by up to two weeks as shipping giants shift freight routes to avoid possible attacks in the Red Sea, which means that Malaysians will likely have to pay more for imported luxuries such as wine and gourmet food shipped from Europe.

Minister of Industry and Trade Tran Tuan Anh has stressed the need for logistics firms to intensify connectivity and expand financial scales in order to further develop the sector.