Container shippers are facing the financial consequences of the Middle East conflict well beyond the immediate war zone, with carriers pushing higher costs onto cargo owners even on trades with no direct link to the region. Xeneta chief analyst Peter Sand said the carriers’ position is clear: the cost of uncertainty is being transferred to the shipper.
According to Sand, no shipper is insulated from either financial or operational risk. Spot rates on Asia-Europe and Asia-US trades, far from the conflict’s centre, have already climbed between 29% and 31% since the end of February. The reason is the global interconnectedness of supply chains, with congestion in the Middle East spilling into Asian transhipment hubs such as Singapore, Port Klang and Tanjung Pelepas.
Fuel has been the fastest-moving pressure point. Bunker prices have doubled in just a few weeks amid fears of supply shortages, while Drewry reported that Maersk has asked to waive the usual 30-day notice period for introducing emergency fuel surcharges. The proposed fees are $200 per teu for headhaul cargo and $100 per teu for backhaul dry shipments.
Patchy fuel supplies, especially across Asian bunkering centres, are adding to the stress. Operators have responded with slow steaming, alternative bunkering strategies and emergency surcharges. Drewry expects these measures to help keep freight rates elevated in the near term, while Xeneta believes the next phase will show whether carriers can manage through speed reductions and rerouting or whether blank sailings will become the next tool used to protect pricing.
