The outbreak of the conflict in Iran and, more generally, the escalation of tensions in the Middle East have had an immediate impact on maritime traffic in the Persian Gulf and on major international routes.
The world’s leading container shipping company, MSC, has suspended all bookings for shipments to and from the Middle East. Such a far-reaching decision signals a level of operational and insurance risk that is now considered too high and will impact the entire market.
Transits through the Suez Canal have also been suspended until further notice. Ships will therefore be rerouted to the Cape of Good Hope, returning to circumnavigate Africa along the Asia-Europe route. This diversion will significantly extend navigation times, increase fuel costs, and reduce available capacity, with inevitable repercussions on freight rates.
A supplement called the “Emergency Conflict Surcharge” of $2,000 per 20-foot container and $3,000 per 40-foot container has also been introduced. The surcharge will apply to the Red Sea ports of Saudi Arabia, Egypt, Jordan, Djibouti, Sudan, and Eritrea.
This situation risks generating congestion not only in the directly affected ports but also in other major Asian ports, with the risk of a general increase in spot freight rates and a potential impact on logistics costs and delivery times internationally.
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