The maritime situation in the Middle East deteriorated during June 23-29, 2026, as renewed military exchanges undermined the temporary diplomatic progress reached earlier in the week.
Weekly Ocean Freight Update – June 23 to June 29, 2026
The maritime situation in the Middle East deteriorated during June 23-29, 2026, as renewed military exchanges undermined the temporary diplomatic progress reached earlier in the week. However, commercial vessels continued to transit through designated navigations corridors under enhanced security, the operating environment across the Strait of Hormuz remained highly volatile, keeping freight markets under sustained pressure.
Disputed Corridors and Military Strikes
On June 27, the Joint Maritime Information Centre (JMIC) announced the expansion of a navigation corridor along Oman’s coastline to facilitate safer inbound and outbound vessel movements. Iranian authorities rejected the arrangement on June 29, reiterating that vessels should follow Tehran’s transit requirements and warning of additional restrictions. Tensions escalated further after U.S. Central Command (CENTCOM) conducted strikes against multiple Iranian military targets on June 28 following continued attacks on commercial shipping. Despite the heightened security risks, commercial traffic through the Strait continued under close military monitoring rather than coming to a complete halt.
Agricultural and Commodity Trade Squeeze
The ongoing blockade has been causing significant disruptions to bulk cargo transport into the Persian Gulf region. According to market participants, inbound cargoes of farm products have been consistently low compared to the 2025 average for the month of June. In addition, for exporters shipping vital foodstuffs such as basmati and parboiled rice in containers, the challenge of unpredictable access in the region and congested ports calls for developing substantial lead times and finding alternative ports for discharge.
Carrier Surcharges and Freight Rate Increases
Ocean operators are enforcing aggressive pricing structures as they navigate elevated bunker fuel costs and restricted capacity ahead of July.
CMA CGM has increased FAK rates drastically starting July 1, making rates $6,300 per 40 feet container from Asia to Europe, while the price is between $7,700 and $8,500 per 40 feet container to Mediterranean ports.
Maersk is still implementing stringent financial penalties for logistics disruptions, collecting $25 per TEU charge for storage on a daily basis for long-stuck transshipment freight, along with Emergency Bunker Surcharge (EBS).
Operators are also universally passing along the costs of rising aviation and marine fuel to shippers, with transit disruption surcharges now a staple of new bookings.
Short-Term Future Outlook
The renewed military escalation during the week is anticipated to keep the Strait of Hormuz among the highest- risk shipping corridors through early July. However, limited commercial transits have resumed under enhanced security arrangements, continued geopolitical uncertainty is expected to sustain elevated freight rates, longer transits times, and higher insurance and fuel costs. With July General Rate increases (GRIs), FAK adjustments, and Peak Season Surcharges taking effect, vessel capacity on the Asia- Europe and Transpacific trades is likely to remain tight as rerouting around the Cape of Good Hope continues for many services. Shippers are therefore advised to secure bookings at least three to four weeks in advance to minimize potential supply chain disruptions.
