World News
Maersk Halts All Strait of Hormuz and Suez Transits
Container line AP Moller-Maersk has halted all transits through both the Strait of Hormuz and the Suez Canal in response to the worsening conflict in the Middle East.
The company is rerouting its ME11 and MECL services around the Cape of Good Hope and suspending all vessel crossings in the Strait of Hormuz until further notice, it said in a note on its website on Sunday.
"Once the situation stabilises and the security conditions again permit, we will continue to prioritise the Trans-Suez route for ME11 and MECL services as it is the fastest, most sustainable and most efficient way for us to serve our customers," the company said.
"The safety of our crews, vessels and customers’ cargo remains our key priority."
The US and Israel attacked a series of military facilities in Iran on Saturday, killing Ayatollah Ali Khamenei and several other senior government figures. Iran responded with strikes on US bases and other targets across the Middle East, and appears to be attempting to prevent commercial shipping from moving through the Strait of Hormuz.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 521.50 | 8.50 | 709.50 | 1.50 |
| Rotterdam | 489.50 | 9.50 | 720.00 | 2.00 |
| Houston | 494.50 | 1.50 | 710.00 | 4.00 |
| Fujairah | 519.50 | 10.00 | 777.50 | 3.50 |
| Global 20 Ports Average | 543.50 | 7.00 | 797.50 | 5.50 |
| Global 4 Ports Average | 506.00 | 7.00 | 729.00 | 2.50 |
| Global Average Bunker Price | 576.00 | 3.00 | 829.50 | 2.00 |
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