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Singapore sea freight companies hit with 50% fuel surcharge; war insurance premium also jacking up costs

One firm had to reroute cargo of used car parts to Dubai via India, raising the shipping cost five times

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Tay Peck Gek

Tay Peck Gek

Published Tue, Mar 17, 2026 · 10:00 AM
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    • Container shipping indices are reflecting the increases in freight costs.
    • Container shipping indices are reflecting the increases in freight costs. PHOTO: BT FILE

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    [SINGAPORE] Sea cargo shipping is getting costlier, burdened by a host of surcharges stemming from higher oil prices in the wake of the Strait of Hormuz’s de facto closure amid the Middle East war.

    Carriers have imposed several additional fees, ranging from emergency fuel costs to war risk premiums.

    Vendors that provide towing services operated by diesel vehicles at depots are also passing on the extra fuel charges to shippers.

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    ShippingIranIran warIsraeloiloil tankersMaritimeSupply chains

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