Image for representation purposes only Global container shipping rates have risen sharply as the conflict between the United States and Iran continues to disrupt energy supplies, increase marine fuel costs and put pressure on global supply chains. According to data from Xeneta and Drewry, freight rates on major routes from Asia to the United States and Europe have climbed significantly since the conflict began on February 28, with some routes recording increases of more than 100%. The latest Drewry World Container Index showed that shipping a 40-foot container from Shanghai to Los Angeles cost $4,565 this week, while the rate from Shanghai to New York reached $5,505. Xeneta data showed the spot rate from Asia to Northern Europe rose 27% over the past week to $3,649, while rates from Asia to the US West Coast increased 20% to $3,933. The freight analytics firm said rates from Asia to the United States have surged 109% since the start of the conflict, while rates from Asia to Europe have increased by more than 50%. Peter Sand, chief analyst at Xeneta, said freight markets are increasingly reflecting concerns over the impact of the conflict on energy supplies and global trade. A major factor behind the rise in freight rates has been the increase in bunker fuel prices. The conflict has disrupted oil flows through the Strait of Hormuz, which normally carries nearly 20% of the world’s oil supply. As a result, fuel costs for ships have risen sharply. According to marine fuel pricing firm Ship & Bunker, prices for very-low-sulphur fuel oil (VLSFO), the fuel widely used by container vessels, have increased by 55% across 20 major bunkering hubs since the conflict began. Prices stood at $1,211 per tonne in Fujairah, $770.50 in Singapore, $676 in Rotterdam and $918 in Los Angeles. While analysts say there is no widespread shortage of bunker fuel, supplies have tightened and some volumes are being redirected to regions less affected by the conflict. Fuel analysts and m