Some Middle Eastern ports face operational restrictions, with several shipping companies imposing additional fees

The escalation of the Middle East situation is affecting shipping, causing uncertainty for some foreign trade companies’ exports and increasing risks. Some shipping companies still operating have also raised freight rates. A foreign trade company in Ningbo, Zhejiang, told reporters that a batch of washing machines prepared for export to the Middle East was loaded onto the truck this morning but was halted due to changes in the shipping schedule, and the shipping date is still pending notification. Zheng Renfan, head of the production department at Xinle Electric Appliance Co., Ltd. in Ningbo, Zhejiang, told reporters that about 95% of their products are exported, with around 30% sold to the Middle East market. The Middle East situation has brought uncertainty to shipments. Logistics companies have learned that ports in Kuwait and Saudi Arabia are operating normally; ports in Bahrain have suspended operations; some ports in Qatar and Oman are experiencing certain operational restrictions. Some shipping companies have suspended bookings to the Middle East region, and some that are still operating have begun charging emergency conflict surcharges and war risk surcharges. (CCTV Finance)