London, July 28 -- Rising security threats across three of the world's most important maritime corridors in West Asia and Europe are leading to skyrocketing freight rates and surging insurance costs, due to the ongoing wars in Iran and Ukraine, which continue to disrupt global energy shipping, according to a new analysis by maritime intelligence group Lloyd's List.
The report said tanker operators are facing mounting costs as attacks and military activity affect shipping through the Black Sea, the Red Sea and the Strait of Hormuz, creating what it described as a "perfect storm" for global energy markets.
According to Lloyd's List, tanker rates in the Black Sea have climbed to their highest levels as Ukraine continues to target vessels lin...