Industry News

MARKET UPDATE – EMERGENCY FUEL SURCHARGES EMERGING DUE TO MIDDLE EAST CONFLICT

Following our recent updates regarding the escalation of tensions in the Middle East and the impact on global shipping markets, we are now beginning to see the first operational and cost responses from major ocean carriers.

Several global shipping lines have announced or are preparing to implement Emergency Fuel Surcharges and War Risk related charges as bunker fuel prices continue to rise due to disruptions affecting the Strait of Hormuz and surrounding energy supply routes.

Carriers including Maersk, MSC, CMA CGM / ANL and Hapag-Lloyd have already issued market advisories introducing or reviewing additional surcharges linked to:

• Rapid increases in marine fuel costs
• War risk insurance adjustments
• Vessel diversions and operational disruptions in the Middle East region

Whilst many of these surcharges have initially been applied to services connected directly with the Middle East and Mediterranean trades, the global nature of bunker fuel pricing means these cost increases are beginning to flow across wider shipping networks, including Asia-Pacific trades.

As a result, carriers are indicating that additional bunker-related adjustments may be introduced or existing fuel mechanisms revised over the coming weeks should fuel markets remain volatile.

What this means for Australian importers and exporters?

At this stage we expect the potential impacts to include:

• Possible Emergency Fuel or Bunker Surcharges being introduced by additional carriers on various trade lanes
• Further fuel surcharge adjustments on ocean freight and inland transport
• Continued rate volatility while the situation develops

TCF continues to monitor developments closely and remains in regular communication with our carrier partners to ensure we can provide early visibility of any changes that may affect your shipments.

As always, any carrier imposed surcharges will be passed through at cost and we will continue to provide advance notice wherever possible.

https://www.reuters.com/business/energy/shipper-msc-introduces-emergency-fuel-surcharges-2026-03-09/

https://www.reuters.com/business/energy/maersk-introduces-emergency-surcharge-fuel-prices-soar-2026-03-10/

Should you have any shipments that may be sensitive to timing or cost fluctuations, please feel free to contact your TCF representative to discuss the best options.

We will continue to keep you updated as the situation evolves.