The shipping company urgently stopped accepting bookings from the Middle East, and the surcharge increased by US$4,000 per box.

Recently, a series of major events have occurred in the Middle East that have shocked the global shipping industry. Iran announced a complete blockade of the Strait of Hormuz. An oil tanker trying to pass through was hit by a missile and sank. The International Transport Workers' Federation designated the relevant waters as a high-risk area. At the same time, the world's major liner companies collectively suspended bookings for the Middle East, changed routes around the Cape of Good Hope, and urgently imposed conflict surcharges of thousands of dollars.

This is the most violent geopolitical shock wave that the global shipping industry has encountered in recent years.As the chokepoint for global oil transportation, the Strait of Hormuz is responsible for about one-fifth of seaborne oil exports; the Red Sea-Suez Canal route is the main container transportation line connecting Asia and Europe.The fact that two key waterways are in a high-risk state at the same time means that the global maritime supply chain is facing an unprecedented double test.

From oil tankers to container ships, from shipping companies to cargo owners, from insurance rates to fuel costs, the transmission chain of this crisis is unfolding rapidly.Many shipping companies have announced the suspension of bookings for Persian Gulf routes, and some ships are stranded in safe waters. Detouring around the Cape of Good Hope has become a real option, and the amount of emergency surcharges per box has climbed to US,000-4,000.For cargo owners and freight forwarders who rely on Middle East routes, the current situation has moved from "rising risks" to an "operational reconstruction" stage.

The following is a detailed summary of the situation in the Strait of Hormuz, attacks on oil tankers, and the latest response measures of major shipping companies as of March 3.

Late at night on March 2, local time, the advisor to the commander of Iran’s Islamic Revolutionary Guard Corps announced to the outside world,The Strait of Hormuz has been closed and Iran will crack down on all ships trying to pass through the strait.Iranian Revolutionary Guard General Jabari made it clear in a televised speech:"We will set fire to any ship that attempts to pass through the Strait of Hormuz."

This statement was a tough response to the US and Israel launching a military strike against Iran on February 28. According to Iran's Fars News Agency, no oil tankers are currently passing through the Strait of Hormuz. 26 oil tankers are lingering near the Strait, and another 27 oil tankers have completely stopped sailing, with a total carrying capacity of 12 million barrels of crude oil.

The Strait of Hormuz connects the Persian Gulf and the Gulf of Oman and is the only way for crude oil exports from Middle East oil-producing countries such as Saudi Arabia, Iraq, Qatar, and the United Arab Emirates. The oil transported through this strait accounts for about one-fifth of the total global oil transportation.

Despite Iran's announcement of a blockade, Forbes News quoted senior U.S. Central Command officers as saying that the Strait of Hormuz is actually still open. The military officer said that Iran neither patrols the strait nor enforces the blockade measures it claims, and believes that this is a pressure strategy by Iran to incite fear.

In the context of continued tensions, a fatal attack pushed the risks to the top. On March 1, local time, a chemical/product oil tanker "SKYLIGHT" flying the Palau flag was attacked about 5 nautical miles north of Khasab Port in Musandam Province, Oman. It subsequently caught fire and began to sink.

According to a report from the Oman Maritime Safety Center, the sea area where the incident occurred is close to the key channel of the Strait of Hormuz, and its geographical location is highly sensitive. A total of 20 crew members on the tanker, including 15 Indian and 5 Iranian personnel, have all been successfully evacuated. Preliminary information shows that four crew members were injured to varying degrees and have been sent to the hospital for treatment.

Multiple information shows that the "SKYLIGHT" is a ship sanctioned by the Office of Foreign Assets Control of the U.S. Department of the Treasury. It was anchored before the incident and has been anchored in relevant waters since February 22. Maritime safety sources said that the ship was suspected of being hit by a missile, and the explosion caused a hole in the deck, causing water to enter the engine room and causing a fire. However, Oman’s official statement has not disclosed the specific nature and source of the attack.

This is the first oil tanker to attempt to pass through the Strait of Hormuz and be hit since Iran announced on February 28 that it would ban any ship from passing through the Strait of Hormuz. The incident triggered great concern in the global shipping and energy markets about the regional security situation.

As military attacks escalate,The International Transport Workers' Federation (ITF) and the United Bargaining Group have officially designated the Strait of Hormuz and surrounding waters as a "high-risk area."

This delineation means that shipowners and operators must provide enhanced protection for seafarers, including conducting risk assessments before sailing, providing contractual insurance, and seafarers’ rights to refuse to sail into the area. The International Transport Workers' Federation represents 16.5 million transport workers worldwide, and the United Bargaining Group is made up of maritime industry employers.

Real-time data from the International Tanker Traffic Monitoring System shows that the sailing speed of oil tankers in the waters surrounding the Strait of Hormuz has generally dropped to zero, and a large number of ships have stopped sailing to avoid danger. Many major oil companies and energy traders around the world have issued emergency orders to suspend all oil and fuel ships from passing through the Strait of Hormuz to avoid security risks caused by the escalation of conflicts. Several European countries have issued emergency bans on transit oil tankers flying their own flags from entering the strait.

As the security situation around the Strait of Hormuz and the Red Sea deteriorates sharply, the world's major liner companies have rapidly upgraded their risk response levels. From ships taking heed, suspending bookings, stopping transit, detouring around the Cape of Good Hope, and then imposing emergency surcharges, the Middle East shipping chain is entering a state of high contraction.

Mediterranean Shipping Company (MSC)Issued an emergency notice to suspend all new cargo bookings to the Middle East globally. At the same time, all MSC ships located in the Gulf waters or heading to this area are instructed to go to designated safe and sheltered waters to stand by.

MaerskAnnounced the suspension of refrigerated freight and dangerous goods transportation to and from the United Arab Emirates, Oman, Iraq, Kuwait, Qatar, Bahrain and Saudi Arabia, and the immediate suspension of all new orders between the Indian subcontinent and multiple Gulf countries. Its ME11 and MECL routes have been rerouted to the Cape of Good Hope and no longer pass through the Red Sea waters.

CMA CGM announced that it would immediately stop booking reefer containers and dangerous goods to and from 13 Middle East and surrounding countries, including Iraq, Bahrain, Kuwait, Qatar, Oman, the United Arab Emirates, Saudi Arabia, Jordan, Egypt (Ain Sokhna Port), Djibouti, Sudan and Eritrea. It also suspended all Suez Canal voyages and diverted relevant ships to the Cape of Good Hope.

Hapag-LloydBookings of refrigerated containers to and from the Arabian Gulf and Persian Gulf have also been suspended, and restrictions have been imposed on intra-Middle East trade, involving countries including Iraq, Bahrain, Kuwait, Qatar, the United Arab Emirates, Saudi Arabia's Eastern Province and Oman.

Ocean Network Shipping (ONE)Announced that from now on it will suspend accepting new bookings to and from the Persian Gulf region until further notice. For cargo that is in transit or has been arranged, we will evaluate it on a voyage-by-voyage basis and update the plan to customers in a timely manner.

Wan Hai ShippingAnnounced the suspension of all cargo bookings to the Middle East. The resumption time will be notified separately depending on changes in the regional situation. Wanhai currently operates three routes in the Middle East market: Pakistan/Saudi Express route, China/Singapore/Saudi Arabia route and India/Middle East route.

CMA CGM announces the imposition of an “emergency conflict surcharge” starting from March 2(ECS), the standard is: US,000 for a 20-foot container, US,000 for a 40-foot container, US,000 for a refrigerated container and special equipment. The scope of application covers goods to and from Iraq, Bahrain, Kuwait, Qatar, Oman, the United Arab Emirates, Saudi Arabia, Jordan, Egypt and other countries.

Hapag-Lloyd charges two additional types of fees:First, an emergency surcharge is levied on the Red Sea-Europe/North Africa route, which is US,500 per TEU for standard containers, and US,500 per box for refrigerated and special containers; second, a war risk surcharge is levied on the route to and from the Persian Gulf and Arabian Gulf, which is US,500 per TEU for standard containers, and US,500 per box for refrigerated and special containers.

The blockade has created key bottlenecks for energy markets and container shipping. Major hub ports such as Jebel Ali have been effectively cut off from external connections. Ships in the Persian Gulf cannot sail out, and new ships cannot enter.

Analysts at JPMorgan Chase pointed out that if the Strait of Hormuz continues to be blocked, the production of Middle East oil-producing countries will face storage limits. Research shows that the onshore crude oil storage capacity of seven oil-producing countries, including Saudi Arabia, the United Arab Emirates, and Iran, is approximately 343 million barrels. Together with the buffer space of approximately 50 million barrels of empty tankers in the region, the total can accommodate approximately 25 days of stranded production. "Once it exceeds 25 days, storage facilities will be saturated and oil-producing countries will be forced to reduce or even suspend production."

In the context of increasing transportation capacity consumption and rising risk costs, the surcharge mechanism was simultaneously launched.People in the Shenzhen freight forwarding industry reported to the media that there is currently a periodic vacuum in the supply of space. If high-value goods need to be shipped urgently, the freight per container may even exceed US,000.

Vespucci Maritime CEO Lars Jensen analyzed that in the future, large container ships may choose to unload their cargo at ports such as Salalah, Horfakkan, Sohar, Duqm and Colombo, and then transfer them to the Gulf area through small ships willing to transit. Although this model can maintain logistics operations, it will increase the risk of congestion at related ports and may have a knock-on impact on further Asian hub ports.

Faced with the severe situation of comprehensive obstruction of shipping channels in the Middle East, relevant companies are advised to:

First, pay close attention to the security dynamics and port operation status of the Strait of Hormuz and surrounding areas, and promptly communicate with carriers to confirm route adjustment plans. Currently, booking restrictions have been upgraded from local risk control to regional preventive measures, and the recovery time is still unclear.

Second, for cargo involving the Persian Gulf route and the Red Sea route, it is recommended to evaluate in advance the possible impact on shipping schedules caused by detouring around the Cape of Good Hope or alternative transshipment options, and reasonably reserve a transportation buffer time. Circumnavigating the Cape of Good Hope typically adds approximately 10 to 14 days to the Asia-Europe and Asia-US East Coast routes.

Third, the rise in insurance costs and surcharges is a foregone conclusion. It is recommended to clarify the way to bear war risks, emergency conflict surcharges and other related costs when signing a transportation contract to avoid subsequent disputes.

Fourth, energy price fluctuations may be transmitted to fuel surcharges. It is recommended to continue to pay attention to relevant cost changes and prepare budgets for response. Brent crude oil prices currently include a risk premium of approximately US/barrel.

Fifth, until the situation becomes clearer, it is recommended to carefully arrange goods sent to the Middle East and give priority to alternative markets or transportation routes. For goods already in transit, it is necessary to maintain high-frequency communication with the carrier and understand the dynamics in real time.