Escalating tensions in the Middle East sent the ASX200 sharply lower, wiping around $20 billion from the market at the opening bell as investors reacted to surging oil prices and heightened global risk. The article underscores the broader economic concern — that disruption to energy flows and shipping routes could quickly translate into higher fuel, freight and consumer costs across Australia.
Freight & Trade Alliance General Manager – Freight Policy & Operations, Tom Jensen, warned that the market reaction reflects very real supply chain consequences already emerging for Australian trade.
Jensen said the immediate issue for cargo owners is the rapid imposition of additional shipping charges.
"The immediate concern for Australian importers and exporters is the imposition of new war-risk surcharges and cost increases at short notice."
He added that where surcharge frameworks reference overseas regulatory settings, it again raises questions about transparency and commercial certainty for Australian cargo owners.
Read the full article HERE
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