Container shipping companies suspend Middle East bookings as conflict escalates, impacting airfreight and jet fuel prices, reports Air Cargo News.
Container shipping companies have suspended services to multiple Middle Eastern ports as the conflict escalates, raising risks for airfreight and jet fuel prices, reported London's Air Cargo News.
Evergreen announced on 5 March that it would stop accepting new bookings for Bahrain, Kuwait, Qatar, the UAE, Saudi Arabia (except Jeddah), and Umm Qasr in Iraq to safeguard crew and cargo. MSC declared an 'End of Voyage' for shipments bound for the Arabian Gulf, diverting cargo to safe ports for local delivery.
Hapag-Lloyd announced contingency procedures on 6 March for shipments already in transit to the region, including the UAE, Saudi Arabia (excluding Jeddah), Kuwait, Qatar, Bahrain, Iraq, Oman, and Yemen. The line had earlier suspended all vessel transits through the Strait of Hormuz.
Ocean Network Express stated on 9 March that it had implemented contingency measures across affected routes, including alternative routings and operational adjustments. ONE had already suspended bookings to and from the Persian Gulf on 2 March.
Maersk has suspended bookings into and out of the UAE, Oman (except Salalah), Iraq, Kuwait, Qatar, Bahrain, and Saudi Arabia's Dammam and Jubail. The company noted that several Gulf states have temporarily closed airspace, affecting Maersk Air Cargo operations and causing delays.
Airlines have canceled or rerouted flights, while reduced options and last-minute schedule changes are extending transit times. The closure of the Strait of Hormuz has pushed oil prices above US$100 a barrel, adding pressure on airfreight through higher jet fuel costs.
