Air freight costs for China-reliant shippers may rise by up to 30 per cent due to the suspension of Middle East air routes triggered by US and Israeli strikes on Iran, a Hong Kong-based logistics association said.
The Hong Kong Association of Freight Forwarding & Logistics made the estimate based on “market feedback” since the strikes began on Saturday, the trade group told the South China Morning Post in an emailed statement.
Most of the group’s 303 corporate members operate in mainland…