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Al-Arabi Deputy: Cape Route Raises Shipping Costs
The article points out that redirecting approximately 40% of Gulf oil trade through alternative routes away from the Strait of Hormuz, particularly the Cape of Good Hope route, significantly increases transportation costs. These routes lead to higher fuel consumption and extend maritime travel times by 10 to 15 days, requiring more ships to carry the same volume of trade. As a result, shipping prices rise, supply chains are impacted, and the costs of goods increase, contributing to inflation and ultimately slowing global economic growth.
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