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EnglishGlobal Crisis Drives Freight Costs Up: Additional $1,800 per Container
Rising tensions between Iran and Israel have significantly increased costs across the global logistics chain. Heightened security risks in maritime transport, along with rising energy prices and insurance premiums, have led to sharp fluctuations in freight markets. According to industry data, shipping costs from Türkiye to the Far East have increased by $1,500 to $1,800 per container.
Hormuz Strait Concerns Trigger Market Volatility
Following attacks involving the US and Israel targeting Iran, commodity prices—especially oil—have surged. Iran’s potential move to close the Strait of Hormuz and threats against tankers have raised risks in Gulf shipping routes, pushing up insurance and fuel costs.
Sharp Increase in Freight Indices
Data from the Shanghai Containerized Freight Index (SCFI) shows that container prices on Middle East routes jumped by 72% in one week, from $1,327 to $2,287. Meanwhile, the Drewry World Container Index rose by 3% to $1,958 per 40-foot container. Freightos Baltic Index data also indicates increasing volatility, particularly on Middle East-linked routes.
Key Drivers: Fuel and Insurance Costs
The rise in freight rates is mainly driven by war risk insurance and fuel costs. Insurance premiums for vessels operating in the Gulf have surged, while increasing oil prices have raised bunker fuel costs. Shipping companies are directly passing these costs on to freight prices.
Türkiye Routes See Significant Price Hikes
The global increase has also impacted Türkiye-origin routes:
- Far East freight rates rose from $2,400–$2,500 to $3,500–$3,700
- India and Pakistan routes exceeded $2,600 from $1,800
- European routes saw a moderate increase of 10–15%
Experts emphasize that Türkiye’s dependence on Middle Eastern routes for energy and raw materials makes it particularly vulnerable to regional risks.
Export Competitiveness Under Pressure
UTIKAD Chairman Bilgehan Engin stated that geopolitical risks are increasingly affecting logistics costs. “If tensions escalate, especially around the Strait of Hormuz, freight costs may rise further, putting pressure on Turkish exporters’ competitiveness in distant markets,” he said.
Total Cost May Exceed $4,500
Calculations show that shipping a 40-foot container from Türkiye to the Far East, which normally costs around $2,700, can exceed $4,500 during crisis periods due to additional charges.
Breakdown of added costs:
- Ocean freight: $3,700
- War risk surcharge: $300
- Fuel surcharge: $350
- Insurance cost: $200
Potential Strategic Opportunity
While the crisis increases costs in the short term, experts believe it may also create long-term strategic opportunities for Türkiye in alternative logistics routes and trade corridors.
