Ocean Freight Rates Surge Amid Persian Gulf Crisis

The escalation of tensions in the Persian Gulf is rapidly reshaping the global logistics landscape, with the Drewry World Container Index rising 23% in one week, from US$2,800 to US$3,400 per 40-foot container, reaching last week its highest level in almost a year.

The shock in ocean freight rates exposes the structural vulnerability of the trade routes that pass through the Strait of Hormuz, through which approximately 20% of the world's oil and a significant share of Asia-Europe container trade transit. The additional pressure on the price of bunker fuel passes directly into freight rates, intensifying the search for alternative routes by companies that prioritize operational continuity over short-term cost optimization.

1. This situation can be taken advantage of in the short term to increase trade within Mercosur and to offer cheaper and more reliable supply alternatives in the medium and long term.

Evolution of the Drewry World Container Index 2025-2026

Source: Drewry Maritime Research | Weekly data in US$ per 40-foot container

Sources

1. Drewry — World Container Index
2. Cadena de Suministro — Iran war, fuel shortage, maritime transport
3. La Jornada — Diversification of supply chains (May 24, 2026)
4. Mas Container — US vs. Iran shakes global maritime transport
5. Mas Container — Higher costs and weak demand: Hormuz again pressures ocean freight rates