Freight prices soar as shipping giant AP Moller - Maersk faces Iran costs

Global transport company AP Moller - Maersk has raised some of its freight charges by 27 percent to cover a surge in global energy prices associated with the conflict in the Middle East.

"With approximately 20 percent of global fuel passing through the Strait of Hormuz, current developments have created an unprecedented cost environment affecting Landside (Inland) and Intermodal operations," it said in a statement.

Customs Brokers and Freight Forwarders Federation of New Zealand chief executive Sherelle Kennelly said the costs were widespread across the industry, with the end user picking up the tab.

"All charges in the supply chain do get passed on to the end user, so that's where you see your pricing increases, in particular with fuel at the pump, but also grocery stores and things like that.

"What we're seeing at the moment is a continuation of the fuel related surcharge [that] has been introduced across the global shipping industry.

"The New Zealand intermodal fuel fee is part of that wider trend, rather than an isolated change."

Intermodel transport involves the efficient movement of a container between two or more modes, such as rail, sea and road.

"To ensure service continuity, safeguard cargo integrity, and secure sufficient vendor capacity across our network, AP Moller - Maersk will implement temporary, cost reflective energy/fuel price adjustments on Landside transportation.

"Given the volatility of the current energy market, further adjustments may be required as conditions evolve."

Kennelly said the market will continue to see increases until the conflict settles down and trade returns to normal.

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