Shipping costs have increased by more than 10 percent in the past month due to the US-Israel war on Iran.
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Shipping and oil costs have continued to surge a month after United States President Donald Trump issued a waiver for the Jones Act, a maritime law that bars foreign-flagged vessels from transporting goods between US ports.
The 60-day waiver came into effect on March 18, as the movement of energy supplies through the Strait of Hormuz, a strategic waterway that carries roughly 20 percent of the world’s oil and liquefied natural gas supply, was choked off on account of the US-Israel war on Iran.
