Iran war costing Hapag

The U.S.-led war in Iran is costing Hapag-Lloyd $40 million to $50 million per week, its chief executive said, as fuel, insurance and other costs skyrocket during the conflict.
The world’s fifth-largest container line also has six ships trapped in the Persian Gulf as Iran chooses which vessels can safely transit the Strait of Hormuz.
“Costs are increasing sharply. If we look at the impact that this has on us, then we talk easily about $40 million or $50 million per week that we are facing at this point in time,” said Hapag-Lloyd CEO Rolf Habben Jansen, on an earnings call, “mainly related to bunker [fuel], but also insurance costs are up significantly and so are costs related to storage and in some cases also inland transportation.”
He said the carrier has introduced contingency and emergency charges to recover those expenses, but said any return is typically delayed.
The German company on Thursday said operating profit fell to $3.5 billion from $4.9 billion in 2025 on higher costs and excess capacity.
The company is monitoring the war’s effect on fuel supplies.
“We are definitely looking into that, because we also see that there is potentially a risk of shortage,” said Habben Jansen. “Asia is not one of our biggest bunkering locations, but it is certainly something to keep an eye on.”
The carrier has been forced to suspend services not only through Hormuz, but through the Red Sea-Suez Canal route, where Houthi militia in Yemen have threatened to resume attacks on shipping in support of Iran.
Habben Jansen said the company has six ships stuck in the Persian Gulf with total capacity of 25,000 twenty foot equivalent units, or feeder-sized vessels that typically shuttle between ports. The liner has been unable to call ports inside the Gulf but still calls Salalah in Oman and Jeddah in Saudi Arabia. He said around 50% of Hapag-Lloyd’s contract freight to the region is exposed to disruptions.
“I think right now it would not have been right to assume that the Red Sea opens up soon,” he said. “The scenario where that remains largely closed for 2026, I think is right now the most realistic.”
Read more articles by Stuart Chirls here.
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Facts Only

Actor: Hapag-Lloyd (German container shipping company)
Event: Incurring additional costs due to the U.S.-led war in Iran
Costs: $40 million - $50 million per week
Factors affecting costs: fuel, insurance, storage, transportation
Location: Persian Gulf
Six ships trapped: Confirmed
Total capacity of trapped ships: 25,000 twenty foot equivalent units (feeder-sized vessels)
Suspended services: Not only through Hormuz, but also Red Sea-Suez Canal route

Executive Summary

In the ongoing geopolitical tension between the U.S. and Iran, the war has significantly impacted Hapag-Lloyd, a German container shipping company. The conflict is causing the company to incur substantial expenses ranging from $40 million to $50 million per week due to surging costs of fuel, insurance, storage, and transportation. Six ships belonging to Hapag-Lloyd are currently trapped in the Persian Gulf as Iran controls access through the Strait of Hormuz. The company has introduced emergency charges to recover these additional costs but notes a delay in recovery. In 2025, Hapag-Lloyd's operating profit decreased from $4.9 billion to $3.5 billion due to these increased expenses and excess capacity.

Full Take

The ongoing conflict between the U.S. and Iran is causing a ripple effect on various industries, with container shipping companies like Hapag-Lloyd bearing significant costs. The company's predicament can be analyzed through several lenses:
1. STEELMAN — Hapag-Lloyd is facing substantial expenses due to the war in Iran, with $40 million - $50 million per week being a conservative estimate. These costs are attributed primarily to fuel, insurance, and storage/transportation. Six of their ships are currently trapped in the Persian Gulf, which has also forced them to suspend services through the Red Sea-Suez Canal route.
2. PATTERN SCAN — No manipulation patterns were detected in this article.
3. ROOT CAUSE — The root cause lies in the broader geopolitical conflict between the U.S. and Iran, which has led to increased instability in the Persian Gulf region, affecting maritime trade and shipping routes.
4. IMPLICATIONS — The costs incurred by Hapag-Lloyd are substantial and will likely impact their overall profitability. Additionally, this situation highlights the vulnerabilities of global supply chains to geopolitical risks and the potential for significant disruptions due to such conflicts.
5. BRIDGE QUESTIONS — What other industries or actors are affected by the U.S.-Iran conflict? How can businesses mitigate these risks in the future? What long-term implications could this conflict have on global trade and security?