The disruption affecting the Strait of Hormuz has been ongoing for approximately 5 weeks, impacting global supply chains. Container freight rates have increased across major east–west trade lanes, including routes to the United States, highlighting the global scale of the disruption.
Freight rates from the Far East to the U.S. West Coast have increased by 29% since the end of February, while routes to North Europe have risen by approximately 31% and to the Mediterranean by around 30%. These increases reflect both direct and indirect exposure to instability in the Middle East.
Port congestion in the Middle East has extended to major Asian transshipment hubs such as Singapore, Port Klang, and Tanjung Pelepas. While no specific percentage is provided, this has resulted in longer transit times and increased operational costs.
Shippers are increasingly securing capacity in advance, contributing to rising spot rates. Although no exact percentage is stated, this behavior is adding upward pressure on pricing due to ongoing uncertainty in schedules, routing, and equipment availability.
Marine fuel prices at major bunkering hubs have increased by up to approximately 200% compared to pre-crisis levels, although prices have started to trend downward gradually after the initial spike.
In response, carriers are evaluating operational strategies such as route adjustments, speed optimization, and capacity management. While no specific figures are provided, these measures aim to control costs and maintain service stability.
As of April 1, average market spot rates are reported at USD 2,430 per 40-foot container from Asia to the U.S. West Coast, USD 3,382 per 40-foot container from Asia to the U.S. East Coast, and USD 1,775 per 40-foot container from North Europe to the U.S. East Coast.
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