Maersk CEO Warns Rising Shipping Costs Due to Iran Conflict Will Ultimately Be Passed to Consumers

Copenhagen. The chief of Maersk, the world's second-largest shipping company, has warned that the increased sea freight costs resulting from disruptions to major global trade routes due to the Iran conflict will ultimately be borne by consumers. Vincent Clerc, CEO of Denmark-based Maersk, stated in an exclusive interview with the BBC that there is a traditional arrangement where companies pass on fluctuations in fuel prices to their customers.

According to him, when the cost of fuel for ship operations increases, the additional expense is charged to the company's customers, and this ultimately affects the consumer. Clerc said, 'Whether fuel prices rise or fall, we have a contract system that passes the impact onto the customer. Therefore, in the current situation, the increased costs will ultimately have to be covered by the consumer.'

Due to the Iran conflict, two crucial maritime trade routes in the Middle East are nearly shut down. Before the conflict, about 20 percent of the world's oil supply reached the global market via the Strait of Hormuz. However, this route has effectively been closed following Iran's warning that it could target ships. This has had a major impact on global trade and energy supply.

Some countries, including the United States and France, have proposed arranging naval security to secure the maritime routes. However, Maersk CEO Clerc made it clear that his company will not put its ships and crew at risk.

He said, 'Our biggest concern is the safety of the crew and the safety of the ship.' According to him, it will be very difficult to send ships to risky areas as long as the risk of drone attacks remains and there is no clear guarantee of a ceasefire.' Clerc also urged the United States, Israel, and Iran to reach some kind of agreement to reopen the trade routes in the Middle East.