The conflict in the Middle East continues to affect global shipping and air freight services, with this week’s rise in oil prices placing further pressure on fuel costs and related surcharges.
Sea Freight Service Update
The situation in the Middle East continues to place pressure on oil prices, with prices this week reaching their highest level since 2022. The impact is still feeding through into fuel costs and surcharges across the sector, as the rise in oil prices adds upward pressure on operating costs. This means further surcharge increases remain a possibility in the weeks ahead.
Emergency fuel surcharges introduced by shipping lines remain in place and continue to be reviewed weekly. Port-related charges introduced in response to the same market conditions also remain in place. While UK haulier fuel surcharge levels were reduced earlier this week as fuel prices temporarily tracked downwards, the subsequent rise in oil prices means there is now potential for those charges to move upwards again if current market conditions persist.
From a service perspective, the position remains stable. Arrivals continue to hold up well, we are not seeing any notable port congestion at present, and our core Asia and Indian Subcontinent services into the UK and Europe are operating normally.
Air Freight Service Update
Air freight services remain under pressure due to restricted schedules. Available space continues to be extremely limited, and we are still seeing delays both at departure and in transit as cargo competes for reduced capacity.
Rates also remain exceptionally high, driven largely by continued fuel surcharges. The combination of restricted schedules, limited space and higher operating costs is continuing to place significant upward pressure on pricing.
If you have any questions or concerns regarding your shipment, please don’t hesitate to contact our Customer Service Team on 01376 533039 or email [email protected]. For Air Freight queries contact 01753 278020.
