US-Israel war on Iran disrupts art transport routes as prices surge

"Benchmark oil prices have climbed rapidly since the conflict began at the end of February. Brent Crude Futures rose from around $79 per barrel before the war to more than $109 on 2 April, prompting airlines to sharply increase cargo fuel surcharges for both short- and long-haul flights."

"Wang Jianmin, the founder of Top Space Art Service, reports that air freight costs for fine art soared between 70% and 300% in the war's opening weeks. For a shipment from Beijing to New York, the cargo fuel surcharges jumped from around $1 per kg to over $3 per kg."

"The disruption to global logistics routes is hitting as much as the rising costs. Some works by the Danish artist Per Kirkeby were recently grounded at Doha International Airport while in transit to his exhibition at the He Art Museum in Shunde, China."

""We've had plenty of logistical hurdles over the years, but this is the strangest for us-to have an entire exhibition physically stuck," says Gordon VeneKlasen, the founder of New York and London's VeneKlasen gallery."

The US-Israel war has led to a surge in oil prices, affecting logistics costs in the art industry. Brent Crude Futures rose from $79 to over $109 per barrel, prompting airlines to increase cargo fuel surcharges. Air freight costs for fine art have soared by 70% to 300%. The Strait of Hormuz has been closed to international shipping, causing disruptions in global logistics. Some artworks have been stranded in transit, affecting exhibitions. Chinese domestic logistics costs have risen modestly due to state-managed price controls.

Read at The Art Newspaper - International art news and events