World - 3 hours ago

As Shipping Giants Faces War Wrath, Freight Prices Soar.

0 8 min read

Wellington, New Zealand; May 2026: Global transport company AP Moller – Maersk has raised some of its freight charges by 27% to cover a surge in global energy prices associated with the conflict in the Middle East. “With approximately 20% 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 paying the price. “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”.

Intermodal 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.

Westpac chief economist Kelly Eckhold said central banks were starting to sound the alarm as the war on Iran dragged on. He said while the surcharge could be removed, indications were oil prices would continue to increase. Eckhold said New Zealand was a small country at the end of the supply chain and lacked the economies of scale of larger countries.

The Associate Transport Minister James Meager has said the New Zealand Government is committed to minimise impact – flow on effects from the world wide fuel crisis was putting more pressure on household budgets. He has further asserted, the government couldn’t control global oil markets or international conflicts, but said it was committed to minimising the impact as much as possible by providing targeted support to those most affected. He said the government was taking measured action, and sticking to a careful economic plan is how the country could get through this global shock.

Diesel and jet fuel stocks are bountiful, according to the latest government update on fuel supplies. The country had about 52 days of petrol, nearly 53 days of diesel and nearly 59 days of jet fuel. Three ships were within two days of arriving, and another nine were less than three weeks away. Diesel and jet fuel stocks are levelled, with 91 petrol about the same as the previous update, the latest government data shows.

The Ministry of Business, Innovation and Employment (MBIE) said overall fuel stocks were well above the minimum requirements and movements reflected usual shipping patterns. The figures have depicted about 52 days of petrol, nearly 53 days of diesel, and nearly 59 days of jet fuel. That compares to nearly 53 days, about 46 days, and about 49 days on Sunday. MBIE said with stocks now very high, it would be normal to see multiple decreases in a row over the next few updates. The department pointed to the new inclusion of the names of fuel ships, saying this would provide greater visibility of supply movements.

They included 03 ships within New Zealand’s exclusive economic zone (up to two days away):