Rising Fuel Prices Drive Up Ocean Rates

Fuel surcharges are driving ocean rates up from post-Lunar New Year levels. However rates still remain well below 2025 levels.

Carriers are now facing the challenge of falling demand but higher operating costs – primarily from fuel – a situation that is worsened by ships heading to Europe having to go around the Cape of Good Hope.

Despite hope that the conflict in the Middle East will be settled soon, most carriers are likely to be extremely cautions around returning to the region.