Conflict involving Iran has pushed fuel costs higher and driven global container
rates up. Xeneta data show spot freight for a 40ft box on a major deep-sea route
at $10,948, more than four times its level since the Feb. 28 outbreak and
nearing the $11,900 record of Jan. 2022. Low-sulfur marine fuel has risen to
$901.5/ton from $543.5 on Feb. 27, though still below the $1,053 peak on Mar.
20. With firms accelerating restocking ahead of the seasonal peak, demand could
push rates higher; Xeneta analysts say persistent fuel surcharges leave a return
above the pandemic peak possible.
