July 23rd, 2026 – Ocean carriers are introducing another wave of emergency fuel surcharges (EFS) in August as renewed fighting in the Middle East pushes bunker fuel costs higher, reversing the decline that had begun earlier this month.
Fuel markets had shown signs of easing following the temporary ceasefire between the United States and Iran. However, the conflict has intensified again following U.S. air strikes, pushing marine fuel costs significantly higher and prompting carriers to pass those increases on to shippers.
The disruption is centered around the Strait of Hormuz, a critical choke point that historically handles roughly one-fifth of the world’s oil and gas supply. Reduced fuel availability through the region has tightened bunker supplies at major refueling hubs, particularly across Asia.
According to Ship & Bunker, prices in Singapore—the world’s largest bunkering port—have climbed dramatically since early July. Very low-sulfur fuel oil (VLSFO) reached $785 per metric ton, up 24%, while high-sulfur fuel oil (HSFO) increased 32% to $579 per metric ton. Marine gas oil (MGO) surged 33% to $1,199 per metric ton.
Europe has experienced similar increases. In Rotterdam, VLSFO prices rose 17% to $676.50 per metric ton, HSFO climbed 25% to $548.50 per metric ton, and MGO jumped 29% to $1,204 per metric ton over the same period.
The rapid rise in fuel costs has prompted carriers to implement additional surcharges across multiple trade lanes.
CMA CGM announced that fuel prices have rebounded sharply following the renewed escalation in the Strait of Hormuz, reversing the recent downward trend. Beginning August 1st, the carrier will implement an emergency fuel surcharge of $150 per TEU and $165 per reefer container on long-haul services, subject to applicable regulatory approvals. The surcharge will remain in effect until further notice.
Ocean Network Express (ONE) will introduce an emergency fuel surcharge effective August 15th, applying $75 per TEU and $100 per reefer container on both Federal Maritime Commission-regulated and non-regulated long-haul trades. The carrier said it will continue monitoring market conditions and adjust the surcharge as needed.
Maersk is also responding to higher fuel costs by introducing an emergency inland fuel and energy surcharge across its Nordic network beginning July 22nd. The surcharge will apply to inland shipments in Denmark, Norway, Sweden, Finland, Latvia, Estonia and Lithuania and will be reviewed weekly. The carrier attributed the measure to fuel supply disruptions stemming from the Middle East conflict.
Mediterranean Shipping Co. (MSC) has already updated its emergency fuel surcharge for European short-sea services, effective July 1st. The carrier has also announced freight-all-kinds (FAK) rate increases on Asia-North Europe and Asia-Mediterranean services that include a global fuel surcharge of $289 per TEU effective July 15th.
Meanwhile, Hapag-Lloyd is transitioning its temporary inland emergency fuel surcharge into its standard fuel surcharge structure. The carrier said the emergency surcharge for inland services in the United Kingdom, Northern Ireland and the Republic of Ireland will expire July 31st, while the North Europe surcharge will end August 14th.
With fuel prices remaining volatile and geopolitical tensions showing little sign of easing, shippers should expect fuel-related surcharges to remain a significant cost factor across both ocean and inland transportation in the coming weeks.
