Maersk in the news as global shipping costs surge and port contracts loom in Panama’s state takeover dispute. Danish founder-led since 1904.
On March 11-12, two oil tankers—the Safesea Vishnu and Zefyros—were attacked in Iraqi waters near Khor Al Zubair, resulting in one crew death and multiple rescues. Iran's Revolutionary Guards claimed responsibility amid ongoing US-Israeli conflict with Iran. These attacks, part of at least 16 assaults on commercial vessels in the Persian Gulf since late February, have disrupted shipping through the Strait of Hormuz, threatening global oil supply and prices.
The Strait of Hormuz remains largely closed due to Iran-backed attacks, causing a sharp rise in energy prices and prompting countries like Egypt to implement energy-saving measures. Shipping reroutes around South Africa are increasing, risking further economic impacts.
Several logistics and shipping companies, including Amazon, USPS, UPS, and FedEx, have announced new fuel-related surcharges due to rising fuel prices caused by ongoing geopolitical conflicts. These surcharges aim to offset increased operating costs and are expected to impact consumer prices and seller margins starting from April 17, 2026.
Panama has invalidated a long-running port concession, prompting China to detain Panama-flagged ships in retaliation. The move follows a January court ruling and broad geopolitical pressure as the United States and allies defend Panama’s sovereignty amid a broader contest for shipping lanes. Leaders are signalling restraint, but the standoff risks widening trade frictions.
Mette Frederiksen has agreed a four-party left-leaning coalition after more than two months of talks, and has presented a programme combining cost-of-living relief — halved VAT on food, free public transport for under-22s, and plans for free dental care — with a firm stance on Greenland, expanded defence and strict migration policies.