Increased transport costs driven by the conflict in Iran will be passed on to consumers, the chief executive of the world’s second biggest shipping company told the BBC.
In a 10 March report, Vincent Clerc, chief executive of leading Danish shipping company AP Moller-Maersk (Maersk), told the BBC that the company had mechanisms in place to respond to fuel prices going up or down, that would be passed on to customers.
Maersk’s container shipping arm plays a vital role in global transportation.
The war has brought transportation through the vital shipping lane the Strait of Hormuz to a standstill. Before the conflict, around a fifth of global oil supplies travelled through the route.
“Ultimately, … these increases will pass to our customers and will pass on to the consumers,” Clerc said.
Since the start of the US-Israel war with Iran, crude oil prices had surged to almost US$120/barrel before easing, but with prices of around US$87/barrel at the time of the report, they were almost 20% higher than prior to the conflict, the BBC wrote.
According to a 12 May Reuters report, Brent crude oil futures had since climbed to around US$108/barrel.
Clerc said the extra costs worked out at around US$200 for a standard 20ft shipping container which could mean “anything from a 15% to a 20% increase on some of the freight cost”.
Maersk’s rival shipping companies leading Geneva-based Mediterranean Shipping Company (MSC) and major German container shipping company Hapag-Lloyd have also increased charges, according to the BBC report.
Meanwhile, Hapag-Lloyd announced “unsatisfactory” first quarter 2026 results on 13 March due to a combination of factors including the blockade of the Strait of Hormuz, severe weather and falling freight rates.
The group posted a net loss of €219M (US$256M) compared to a profit of €446M (US$522M) in the first three months of 2025.
In a statement on Wednesday, Hapag-Lloyd CEO Rolf Habben Jansen cited the volatile market environment for the poor results, announcing his intention to maintain strict cost discipline.
“The first quarter of 2026 was unsatisfactory for us, with weather-related supply chain disruptions and pressure on freight rates leading to significantly lower results,” Jansen said.
As of 9 March, data from the logistics firm Kuehne+Nagel Seaexplorer 132 ships remained stuck in the Gulf.
Meanwhile, global shipping lines were also avoiding passage through the Red Sea due to security threats, the BBC wrote.
It is causing widespread disruption to the global economy with firms such as Maersk sending its vessels on longer – and more costly - voyages around the Cape of Good Hope, according to the report.
In response to rising shipping costs, China’s transport ministry had called in executives from Maersk and another firm to discuss their “international shipping operations”, the BBC wrote.
US President Donald Trump was expected to discuss the US-Iran war during his meeting with Chinese President Xi Jinping during his trip to Beijing on 14-15 May.
Iran war cost will be passed to consumers, shipping giant boss tells BBC
Iran war cost will be passed to consumers, shipping giant boss tells BBC - BBC News
Hormuz standoff drives oil higher as Iran-US peace hopes ebb
Hormuz standoff drives oil higher as Iran-US peace hopes ebb
