Trump’s Venezuelan action seen likely raising global logistics costs

The US attack on Venezuela has increased the risk in global logistics, which will impact costs, according to specialist maritime and energy sector veteran Paul Morgan. With integrated global markets and fears that similar US actions may follow in Greenland, and that Trump may target other strategically positioned routes and ports, this is something that concerns everybody. He explained that following the attack, there is a power vacuum, and as long as there is uncertainty about who controls what, the shipping industry is in a very difficult position. He further warned against increased insurance premiums and requirements for pre-notification of trips to these waters, risk-averse financiers, and that some prominent shipping companies may decide to avoid the area completely and rather take longer, safer routes, as per a report.

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