Maersk has confirmed an emergency freight surcharge of up to $3,800 per container and kept its Gulf booking restrictions in place, just days after the US and Iran announced a deal to reopen the Strait of Hormuz. The surcharges are on track to hold well into the back half. A deal on paper reopens a waterway, but does not reopen a trade lane.
What it costs: Maersk's Operational Update set the surcharge effective immediately, with no end date or conditions for removal.
$1,800 per 20ft dry container
$3,000 per 40ft dry container
$3,800 per reefer, special, or dangerous-goods box
$25 per TEU per day storage beyond 14 days
The charges apply to cargo moving to and from Iraq, Kuwait, Saudi Arabia, Bahrain, Qatar, the UAE and Oman, with Salalah as the exception.
How cargo is moving: Reefer and dangerous goods bookings to most Upper Gulf markets remain fully suspended, and dry cargo is capped. Maersk is rerouting boxes via Salalah and Khor Fakkan, then running them overland by landbridge to Sharjah. Empty containers can be returned only to designated depots in Salalah and Jeddah.
The deal, briefly: A US-Iran MOU to reopen Hormuz was announced, with a formal signing expected in Geneva. It reportedly provides for immediate opening of the Strait, toll-free for 60 days, and subject to renegotiation after that, following more than three months of closure.
Why a signed deal doesn't end the surcharge: Traffic recovery takes months after agreements are signed, and the physical constraints remain significant. US defense officials estimate mine clearance could take up to six months, and BIMCO says residual mine risk alone could delay full restoration.
War risk insurance has repriced from about 0.25% of vessel value pre-crisis to 3-8% now. Roughly 550 cargo vessels and tankers remain west of Hormuz, according to Windward AI, and will take weeks to clear. BIMCO’s Jakob Larsen said, “We still consider it very risky for ships to commence transits at this point.”
Across the carriers: Maersk is not alone. CMA CGM, Hapag-Lloyd and MSC have introduced their own war-risk or emergency surcharges and booking limits on Gulf cargo. Hapag-Lloyd has set a $1,500 per TEU war risk surcharge and suspended reefer bookings to the Upper Gulf.
The cost outlook: The surcharges, booking suspensions, and elevated war-risk premiums are set to hold well into the back half, regardless of when the Geneva signing takes place. Relief is likely to come only after the mines are cleared and insurers reprice risk. That process takes months and moves much slower than diplomacy.
