On May 7 local time, global shipping and logistics giant Maersk Group CEO Vincent Clerc said in an interview that due to the rise in oil and energy prices caused by the US-Iran war, Maersk is incurring an additional “extra cost” of up to $500 million per month. Companies cannot bear such a huge cost increase alone and will be forced to pass the pressure on to customers.
Clerc also warned that the impact of the Middle East conflict on global supply chains could worsen in the coming months. Even if the Strait of Hormuz reopens in the short term, its role in promoting the recovery of overall freight logistics will be relatively limited, as energy prices will not fall immediately and security concerns will not be eliminated right away.
