War and climate change drive surge in cost of shipping through global chokepoints

AI Summary

Shipping rates have surged due to war and climate change impacting global chokepoints such as the Panama Canal, Rhine, Red Sea, and Black Sea. The closure of the Strait of Hormuz has also disrupted seaborne trade, causing significant cost increases along these critical routes.

Rates along routes including Panama Canal, Rhine, Red Sea and Black Sea jump, while Hormuz closure also hits seaborne trade