The decision means CMA CGM, Hapag-Lloyd, Maersk and Zim will be forced to wait until early April before implementing surcharges designed to recoup higher operating costs associated with the war in the Middle East.
Reefer shipments into the port, while still small, have been growing faster than overall cargo, forcing port officials to deal with more long-dwelling containers.
The closure of the Strait of Hormuz is the latest disruption to global shipping, highlighting once again that the market would rather ride out the problem than pay for the resilience that could bring relief, analyst Lars Jensen writes.
