US-Israel Conflict with Iran Disrupts Art Transport and Increases Costs
The ongoing conflict between the US-Israel coalition and Iran has significantly impacted the art industry, particularly affecting transportation routes and costs. Since the conflict began in late February, oil prices have surged, with Brent Crude Futures rising from $79 to over $109 per barrel by early April. This increase has led to higher cargo fuel surcharges, affecting air freight costs for art shipments. For instance, air freight costs for fine art have increased by 70% to 300%, with fuel surcharges for shipments from Beijing to New York rising from $1 to over $3 per kg. The closure of the Strait of Hormuz to international shipping has further complicated logistics, forcing art shippers to seek alternative routes, such as the China-Europe Railway Express. This rail network offers a more affordable and predictable option compared to maritime transport, which has become less reliable due to the conflict. 
