Ocean carriers are quickly reacting to the war launched by the USA and Israel against Iran. Carriers are re-routing vessels away from the Strait of Hormuz, as well as instituting “Emergency Conflict Surcharges” for cargo moving to or from the region, including Iraq, Bahrain, Kuwait, Yemen, Qatar, Oman, United Arab Emirates, Saudi Arabia, Jordan, Egypt, Dijbouti, Sudan and Ertirea. Some surcharges have been published at levels in the area of $2000/20', $3000/40' and $4000/reefer.
The conflict has also led to changes in the oil market, with potential increase in prices due to disruption in the supply from this important oil producing region. We will be monitoring any impact on the ocean carrier fuel prices and reporting any changes.
