Transport & Environment: U.S. and Israeli-Iran conflicts increase global shipping costs

The report shows that since February 28, the global shipping industry has incurred more than 4.6 billion euros in additional fuel costs. As the conflict continues, marine fuel prices have risen significantly. For example, at the Port of Singapore, the price of ultra-low sulfur fuel oil has risen to 941 euros per ton, a 223% increase since the beginning of the year; the price of liquefied natural gas has increased by 72% since early March. (CCTV News)