{"id":108460,"date":"2026-03-02T13:35:47","date_gmt":"2026-03-02T16:35:47","guid":{"rendered":"https:\/\/shipping.einnews.com\/article\/896898967"},"modified":"2026-03-02T13:35:47","modified_gmt":"2026-03-02T16:35:47","slug":"hormuz-escalation-roils-global-shipping-with-war-levies-and-insurance-cover-cuts","status":"publish","type":"post","link":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/2026\/03\/02\/hormuz-escalation-roils-global-shipping-with-war-levies-and-insurance-cover-cuts\/","title":{"rendered":"Hormuz escalation roils global shipping with war levies and insurance cover cuts"},"content":{"rendered":"

Follow live updates <\/b>here<\/b><\/a><\/p>\n

The transporting of cargo through the Strait of Hormuz<\/a> is expected to become costlier and risky as insurance companies cancel coverage and shipping firms introduce new surcharges.<\/p>\n

The moves come as the Iran conflict and attacks by the US and Israel<\/a> continue.<\/p>\n

Shipping firm Hapag-Lloyd on Monday said it will introduce a War Risk Surcharge (WRS) for transporting cargo to and from the Arabian Gulf, even as ships avoid passing through the Strait of Hormuz, a key route for the transport of oil, as a precautionary measure. <\/p>\n

For standard containers, the company will levy a WRS of $1,500 per 20-foot equivalent unit (TEU) and $3,500 per container \u2013 for reefer containers and special equipment \u2013 from Monday, Hapag-Lloyd’s website says.<\/p>\n

\n

Any plans for a phased return of container shipping to the Red Sea in 2026 will be shelved until the security situation becomes clearer<\/p>\n

Peter Sand,
chief analyst at Xeneta<\/span><\/p>\n<\/div>\n

\u201cThe surcharge applies to any booking issued on or after March 2 that has not yet [been] shipped, as well as cargo already on the water but not yet discharged or loaded from the Arabian Gulf and the Upper Gulf,\u201d Hapag-Lloyd said.<\/p>\n

France-based shipping company CMA CGM also introduced what it called an Emergency Conflict Surcharge (ECS) on Monday, with $2,000 charged per 20-ft dry container, $3,000 per 40-ft dry container and $4,000 per Reefer or other so-called special equipment.<\/p>\n

The levy applies to vessels sailing from or to Iraq, Gulf countries, Jordan, Egypt, Djibouti, Sudan, Eritrea and Yemen.<\/p>\n

Three tankers were attacked on Sunday while sailing on the Strait of Hormuz. Iran\u2019s Islamic Revolutionary Guard Corps<\/a> (IRGC) had earlier warned ships to steer clear of the waterway. US-sanctioned Skylight, a vessel that sails under the flag of Palau, and the Marshall Islands-flagged MKD Vyom each came under attack, while an unidentified tanker was also attacked, according to the UK Maritime Trade Operations group.<\/p>\n

The Strait of Hormuz is a busy shipping route, with about 20 per cent of the world’s oil passing through the narrow channel between Oman and Iran. <\/p>\n

\n
<\/figure>\n<\/div>\n

Insurance cover<\/b><\/h2>\n

With the regional situation quickly evolving, insurance companies are cancelling coverage for the Strait of Hormuz and Yemen’s Houthis are said to be preparing the closure of the Bab Al Mandeb strait. <\/p>\n

Peter Sand, chief analyst at freight pricing platform Xeneta, told The National<\/i> the repercussions of the joint military operation by the US and Israel against Iran, and subsequent retaliatory action, will lead to \u201cthe further weaponisation of trade and shatter hopes of a large-scale return of container shipping to the Red Sea in 2026\u201d.<\/p>\n

He added: \u201cCarriers had been returning selected east-west ocean container services to transit via the Suez Canal in recent months after sailing around the Cape of Good Hope since late 2023 due to attacks by Iran-backed Houthi militia in the Red Sea region. <\/p>\n

\u201cIf the Houthi militia resumes attacks, as now seems likely, carriers will reverse the decision to return services to the Red Sea, and prioritise the safety of crew, ship and cargo.<\/p>\n

\u201cAny plans for a phased return of container shipping to the Red Sea in 2026 will be shelved until the security situation becomes clearer.<\/p>\n

\u201cCarriers are on red alert and we have seen signs of them pre-empting this security deterioration in the Middle East, notably with CMA CGM last month reversing a decision to return its FAL1, FAL3 and MEX to the Red Sea, citing \u2018the complex and uncertain international context\u2019, he said, referring to major shipping routes operated by the French firm connecting Asia and North Europe.<\/p>\n

\u201cEarlier this week, Maersk announced its ME11 and MECL services would be rerouted via Cape of Good Hope due to security concerns in the Red Sea region.\u201d<\/p>\n

Impact on the Middle East<\/b><\/h2>\n

Ocean container services in the Arabian Gulf have continued unaffected by the recent build-up of military forces in the region, Mr Sand said. \u201cBut the escalation in conflict through military strikes means ships will now avoid the area, but for as short a time as possible.\u201d<\/p>\n

Average spot rates from China to UAE have increased \u201c5 per cent since February 15 to stand at $1,572 per FEU (40ft equivalent container), no doubt pushed up by concerns over the security situation and shippers being worried about their goods getting in and out of ports\u201d in the Arabian Gulf, he said.<\/p>\n

He added that there is \u201cno viable alternative to getting containers in or out of ports such as Jebel Ali by ocean\u201d if the Arabian Gulf is off limits. \u201cCarriers will instead omit these calls on East-West services and drop boxes at a least-worst alternative port for onward transportation by road,\u201d Mr Sand said.<\/p>\n

\u201cThis will cause severe disruption and port congestion at a regional level but will not have a major impact on a global scale when compared to the seismic influence of conflict in the Red Sea.\u201d<\/p>\n

\n
<\/figure>\n<\/div>\n

Vessel backlog <\/b><\/h2>\n

While regional ports remain operational, the temporary reduction in Strait of Hormuz transit is likely to create a backlog, said Farhad Patel, director of Dubai-based Sharaf Shipping Agency.<\/p>\n

He expects berth congestion at key load and discharge ports as well as delays in pilotage, tug allocation and port clearance, and extended waiting time at anchorage once regular shipping traffic is resumed.<\/p>\n

\u201cFreight rates may also experience short-term volatility as tonnage availability tightens during the catch-up phase,\u201d he said.<\/p>\n

<\/a><\/strong> <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

… here The transporting of cargo<\/span> through the Strait of … Surcharge (WRS) for transporting cargo<\/span> to and from the Arabian … cargo<\/span>. \u00e2\u0080\u009cAny plans for a phased return of container shipping<\/span> … anchorage once regular shipping<\/span> traffic is resumed. \u00e2\u0080\u009cFreight<\/span> rates may also …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-108460","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/108460","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/comments?post=108460"}],"version-history":[{"count":0,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/108460\/revisions"}],"wp:attachment":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/media?parent=108460"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/categories?post=108460"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/tags?post=108460"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}