Ocean carriers impose emergency fuel surcharges as bunker costs surge in International Shipping News 12/03/2026 Ocean carriers are introducing emergency fuel surcharges and raising freight rates across key global trade lanes as rising bunker fuel costs and geopolitical tensions disrupt shipping services, with Indian rice exports to the Middle East facing delays, higher logistics costs and container shortages, market sources told Platts. The additional charges and service disruptions are increasing freight costs for exporters and buyers, restricting container availability and forcing some rice exporters to reroute cargo, renegotiate contracts or temporarily halt shipments to key Middle Eastern markets. Platts assessed PCR 33 — West Coast of India to the Middle East — at $3,400/FEU, up 1,136% from March 2, and TCR 33 — West Coast of India to the Middle East — at $2,200/TEU, up 1,000% over the same period. At present, the Strait of Hormuz is effectively off-limits for shipping. We have a shipment scheduled for Umm Qasr, but securing freight has become impossible,” said Ashish Narain, Managing Director at Innoterra. “As a result, we are exploring alternative routes, such as through Mersin port. Freight rates have risen to around $2,500 per container, and services to several Persian Gulf ports have been disrupted.” Narain added that Innoterra is converting contracts to FOB terms to shift freight responsibility to buyers while exploring alternative port options. Market participants said container availability has also tightened as disruptions affect the circulation of equipment. “Shipping lines constantly recirculate empty containers, but when disruptions occur, container circulation is affected, and availability becomes a major issue,” said Dev Garg, vice president of the Indian Rice Exporters Federation. “India exports around 3.2 million mt of basmati rice to the Middle East annually, even if buyers are willing to pay higher freight rates, containers are simply not available,” Garg said. “There is also significant uncertainty, and many insurers are reluctant to cover shipments in the region. Bunker fuel prices have nearly doubled… cargo is currently stuck at Jebel Ali port,” Garg added. Amid the disruptions, carriers have begun introducing additional fuel surcharges to offset rising bunker costs. On March 9, Hapag-Lloyd notified that an Emergency Fuel Surcharge (EFS) will apply to all trades, covering costs not included in the Marine Fuel Recovery Charge (MFR). Rates are: long-haul front haul—$160/TEU (dry), $225/TEU (reefer); longer haul back haul—$70/TEU (dry), $100/TEU (reefer); intra-region—$70/TEU (dry), $100/TEU (reefer). The EFS applies to bookings made on or after March 23, 2026, and is payable by the Sea Freight payer. Carriers are introducing higher freight rates globally. CMA CGM has announced a Peak Season Surcharge (PSS) of $400/TEU for Northeast Asia and Southeast Asia to Kenya, Tanzania & Mozambique from March 8, 2026, until further notice. “Marine fuel charges will be implemented globally across all trade lanes above war surcharges,” a Malaysian shipper said. As marine fuel charges are being introduced, market participants are reporting services getting cancelled from West Coast India to the Middle East amid shippers’ reluctance to send cargo to the region. An African shipper added, “MSC will introduce an Emergency Fuel Surcharge (EFS) effective March 11, in addition to existing war surcharges from India, Pakistan, and Bangl