The Middle East conflict is upending business for used-car traders in Japan and South Korea, leaving exporters with shipments of vehicles stuck in transit.
Breakdown
- Iran's closure of the Strait of Hormuz disrupts global shipping routes 14s
- Used car shipments from Japan and South Korea to the Middle East are delayed 25s
- The UAE is a major market, with 15% of Japanese-used car exports 36s
- Port congestion in Sri Lanka delays over 500 cars bound for the Middle East 1m 17s
- South Korea's export network to the Middle East and beyond is nearly paralyzed 1m 53s