Ghanaian Traders in Israel Express Concern Over Soaring Freight Costs Amid Escalating Israel-Iran Conflict
Some Ghanaian businesses operating within the Israel trade corridor have expressed growing concern over the potential spike in freight charges as the conflict between Israel and Iran intensifies.
With geopolitical tensions escalating between the two Middle Eastern nations, shipping routes are being threatened, sparking fears among Ghanaian importers and exporters of significant disruptions to trade logistics and rising costs.
In an interview, President of the Ghana Union of Traders Association (GUTA), Joseph Obeng, revealed that members of the association are already experiencing signs of freight instability. According to him, shipping firms have begun contemplating route changes in anticipation of possible closures in critical maritime channels, including the Strait of Hormuz.
“The only problem we see is that it is going to affect us in terms of freight charges and the prolonged delivery of our goods, because most of these shipping lines are going to reroute. If care is not taken, the Strait of Hormuz is also going to be closed,” he warned.
The Strait of Hormuz is a key oil and trade route, and any disruption there could have far-reaching consequences on global supply chains, particularly for petroleum and essential goods.
The ongoing conflict has already sent ripples through international markets, triggering a 3% surge in global oil prices following a reported U.S. strike on three Iranian nuclear sites. For Ghanaian traders, this development could translate into higher importation costs, further worsening the cost-of-living situation at home.
Mr. Obeng has called on global leaders, particularly the United Nations and the United States, to intervene and push for diplomatic engagement to de-escalate the conflict.
“Most of the essential cargo comes from this corridor, and that’s why we do not seek the escalation of this war. We rather pray to the leaders of the world, the UN and the United States, to find ways to bring a ceasefire and a political solution to this problem,” he appealed.
