‘Turbulent and dangerous’: How shipping is the new global battleground

When Indonesia’s Finance Minister Purbaya Yudhi Sadewa floated the idea last week of charging a toll for vessels passing through the Strait of Malacca – inspired by Iran’s moves in the Strait of Hormuz – it set off alarm bells among insurers and Asian importers.

While Indonesia quickly walked back the suggestion, it underscored a growing reality, analysts say: what was once a rules-based order g...