German shipping line Hapag-Lloyd estimated that the conflict in West Asia resulted in around $600 million in additional costs in the second quarter of 2026
The disruption around the Strait of Hormuz is putting significant cost pressure on global shipping lines. Maersk and Hapag-Lloyd announced their quarterly financial results on Thursday, reporting higher bunker fuel, insurance, storage, rerouting and inland transportation expenses. This is even as they raise freight rates to pass on a part of the additional costs to customers.
German shipping line Hapag-Lloyd estimated that the conflict in West Asia resulted in around $600 million in additional costs in the second quarter of 2026. The company said the blockage of the Strait increased expenses across bunker fuel, insurance, storage, service rerouting and inland transportation.
bunker price rises
Danish major Maersk said its average bunker price rose 44 per cent to $777 per fuel-oil-equivalent tonne, while total bunker costs increased 36 per cent to $2.1 billion in the second quarter. Container-handling costs rose 11 per cent, driven by congestion, higher storage costs and increased volumes.
Both companies carry significant volumes of Indian cargo on their ships. The Hormuz disruption is creating a two-sided cost squeeze for shipping lines — carriers are facing higher operating expenses — while customers are facing higher freight bills. The ability of shipping companies to pass on these costs through freight rates will determine how much of the financial impact is ultimately absorbed by carriers, and how much moves down the global supply chain, said an official with a large freight forwarding company.
The higher cost burden is increasingly being reflected in freight rates. Hapag-Lloyd’s average freight rate increased 9 per cent year-on-year. Maersk’s average loaded freight rate increased 22 per cent to $2,746 per FFE, with East-West rates rising 28 per cent and North-South rates increasing 21 per cent.
Maersk introduced alternative routing and additional vessel capacity to keep cargo moving. Of the 47,000 containers affected by the disruption, 44,000 reached their destinations through alternative logistics solutions.
The broader freight market has also responded sharply. The Shanghai Containerized Freight Index almost doubled from $1,656 per TEU at the end of 2025 to $3,240 per TEU at the end of June 2026, reflecting higher oil and transportation costs, as well as exporters bringing forward cargo to protect against further supply-chain disruptions.
Published on August 14, 2026
