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Energy Disruptions Drive Up Freight Rates
Release time：
2026-06-03
Browsing：77次
Disruptions at the Strait of Hormuz have restricted crude oil exports from the Middle East, leading to a steep hike in bunker fuel prices. In May 2026, prices of low-sulfur and high-sulfur bunker fuel surged 69% and 61% year-on-year respectively.Bunker fuel sales in Singapore fell sharply, and most vessels adopted slow steaming. Additionally, 53 container ships were stranded in the Persian Gulf, putting roughly 1.5% of the world's container capacity out of operation and prolonging supply chain lead times.
Major shipping lines have urgently imposed additional bunker surcharges, triggering an across-the-board surge in ocean freight rates. The SCFI climbed 13.22% month-on-month, while rates on multiple Trans-Pacific and Europe-Asia routes rose by 10% to 28% in a single week.Negotiations for long-term contracts have reached a stalemate. Shippers hold a wait-and-see attitude and postpone contract signings, which further pushes up spot freight rates and drives up overall maritime logistics costs.
This crisis has spilled over globally. Shortages of petrochemical building materials have delayed construction projects worldwide and strained corporate cash flows. The energy and aviation sectors in many countries have also been hit, driving up living costs for residents. If the situation persists, pressures on the global real economy and inflation will intensify further.
Major shipping lines have urgently imposed additional bunker surcharges, triggering an across-the-board surge in ocean freight rates. The SCFI climbed 13.22% month-on-month, while rates on multiple Trans-Pacific and Europe-Asia routes rose by 10% to 28% in a single week.Negotiations for long-term contracts have reached a stalemate. Shippers hold a wait-and-see attitude and postpone contract signings, which further pushes up spot freight rates and drives up overall maritime logistics costs.
This crisis has spilled over globally. Shortages of petrochemical building materials have delayed construction projects worldwide and strained corporate cash flows. The energy and aviation sectors in many countries have also been hit, driving up living costs for residents. If the situation persists, pressures on the global real economy and inflation will intensify further.