Stories

Wed, 11 Mar 2026

Wed, 11 Mar 2026 Iran war cost will be passed to consumers, shipping giant boss tells BBC

The head of the world's second biggest shipping firm called for freedom of navigation to be restored.
The conflict has already had a significant impact on global trade, with at least seven seafarers killed and several others injured in the Strait of Hormuz since it began. The UN's International Maritime Organization (IMO) Secretary General Arsenio Dominguez emphasized that these seafarers are essential to the global community and must be protected from broader geopolitical tensions. Maersk's rival companies, MSC and Hapag-Lloyd, have also increased charges due to service disruptions caused by Iran-linked interruptions. The company has seen a "profound impact" on its operations, with many customers experiencing delayed deliveries. Clerc warned that the situation is "extremely disruptive" for regions relying heavily on imported food. In an attempt to address these issues, governments including the United States and France have suggested naval escorts as a solution to reopen waterways. However, Maersk's CEO expressed concerns about safety risks and questioned the effectiveness of this approach in providing long-term protection.