The attacks targeting Iran and escalating tensions in the Middle East are directly impacting global maritime transport, particularly in the Strait of Hormuz, which handles about 20% of the world’s oil and LNG shipments.
Key impacts on maritime transport:
• Increased maritime security risks: Many international shipping lines have raised security alert levels, adjusted routes, or delayed vessels transiting the Persian Gulf. War-risk insurance premiums have surged, especially for oil tankers and container ships operating to and from the Middle East.
• Rising freight rates: Freight rates on Asia–Middle East and Asia–Europe routes are trending upward due to:
-
Higher insurance costs
-
Longer transit times (if rerouting is required). The standard Asia–Europe route via the Suez Canal may shift to a diversion route via the Cape of Good Hope, significantly extending sailing time.
-
Localized container shortages
• Risk of energy supply chain disruption: If oil flows through Hormuz are severely disrupted, bunker fuel costs will rise, pushing up global logistics expenses.
According to the Vietnam Logistics Business Association, domestic logistics firms are facing mounting international freight cost pressures, particularly for exports to the EU.
The Ministry of Industry and Trade of Vietnam has advised businesses to:
-
Closely monitor route risks
-
Renegotiate insurance terms
-
Prepare alternative shipping plans
So far, no direct damage to Vietnamese vessels has been reported. However, indirect impacts are evident through rising freight and insurance costs, shipping delays, and increased export pricing pressure. Prolonged conflict could shift impacts from cost escalation to actual supply chain disruptions.
