"We have not seen the oceans this turbulent and dangerous since when countries met to establish rules decades ago. Shipping has been a dangerous endeavor, subject to piracy and sea banditry."
"A series of actions by major players from the United States to Iran, and Russia to China threaten to rip apart the rules that have helped ships navigate choppy ocean waters."
"Maritime transport moves more than 80 percent of goods traded worldwide, and the established rules enabled global trade to balloon from about $60bn in the 1950s to more than $25 trillion last year."
Geopolitical tensions are reshaping global shipping, with the potential for increased costs and dangers. Indonesia's proposal for tolls in the Strait of Malacca reflects this shift. Historically, nations established maritime rules to ensure safe navigation, facilitating a significant increase in global trade. However, recent actions by countries like the US, Iran, and China threaten to undermine these established rules. The situation in the Strait of Hormuz exemplifies this trend, with military actions impacting shipping security and freedom of navigation.
Read at www.aljazeera.com
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