Australian firms shocked at scale of sudden Iran war shipping surcharges

Hong Kong executives also report spike in insurance premiums; Japanese shippers’ stocks soar

20260302 Port Australia

The Victorian International Container Terminal in Melbourne. Australian companies are among those reporting a sharp increase in shipping costs as a result of the attack on Iran. © Getty Images

SHAUN TURTON, LORRETTA CHEN and YUICHI SHIGA

CANBERRA/HONG KONG/TOKYO — Shipping and freight sector executives in Australia say they’re concerned at the “speed, scale and timing” of surcharges being imposed by shipping companies on routes through the Middle East, as the Iran conflict hits freight and trade supply chains.