Many Vietnamese exporters reported that starting from March 2, ocean freight rates increased by an additional USD 2,000–4,000 per container. At the same time, several shipping routes to the Middle East, the Red Sea, and the eastern Mediterranean have temporarily stopped accepting bookings.

Shipping lines adjust schedules

In Vietnam, Taiwanese shipping company Wan Hai issued an urgent notice on March 2 announcing the suspension of services to the Middle East, the Red Sea, and the eastern Mediterranean region, including Türkiye and Egypt.

The company cited ongoing conflict in the Middle East as the main reason for halting all bookings to these three regions. The notice took effect immediately and will remain in place until further updates are provided. At the same time, Wan Hai increased ocean freight charges, with the highest surcharge reaching USD 4,000 per container.

In an interview with Thanh Niên, a regional communications representative for Asia at Maersk stated that shipping operations through the Strait of Hormuz were adjusted immediately after the outbreak of hostilities. Due to the deteriorating security situation in the Middle East following the escalation of military conflict, Maersk has temporarily suspended vessels transiting the Suez Canal and passing through the Bab el-Mandeb Strait until further notice.

All vessels operating on routes from the Middle East–India corridor to the Mediterranean and from the Middle East–India corridor to the U.S. East Coast will be rerouted around the Cape of Good Hope.

“The safety of our crew, vessels, and customers’ cargo remains our top priority. We will continue to closely monitor developments and take all necessary measures while minimizing disruptions to our customers’ supply chains. We will provide regular updates as the situation evolves. Once conditions stabilize and security permits, we will prioritize restoring transit through the Suez Canal, which remains the fastest, most sustainable, and most efficient route for serving customers,” the Maersk representative said.

Similarly, most major global shipping groups including Hapag-Lloyd, CMA CGM, and MSC Mediterranean Shipping Company have simultaneously announced temporary suspension of cargo acceptance at certain Gulf ports, the imposition of war risk surcharges, and stricter limitations on refrigerated container bookings.

Rerouting voyages has extended transit times by approximately 7–14 days depending on the route. Meanwhile, the maritime insurance market has also reacted strongly. Several shipowners’ liability insurers and war risk insurance providers have announced the cancellation or restriction of coverage for vessels operating in Iran and the Persian Gulf, with new conditions taking effect within 72 hours of notification.

The International Maritime Organization has also called on shipping companies to exercise maximum caution and, if possible, avoid transiting the region until security conditions improve.

Immediate impact on Vietnam’s exports

This situation has immediately affected Vietnam’s export activities, particularly seafood products, which are shipped to hundreds of markets worldwide.

Le Hang, Deputy Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP), explained that when war risk insurance is canceled or premiums surge sharply, many commercial vessels cannot operate unless they purchase new coverage at significantly higher costs.

For the seafood sector, even shipments that do not directly pass through the conflict zone may still face increased costs if vessels in their transport chain call at ports located in areas designated as war zones. The refrigerated shipping chain used for seafood transport is particularly vulnerable because these products require strict temperature control and precise delivery timing.

When certain airspaces are restricted and flight schedules disrupted, the supply of fresh seafood transported by air can face shortages within just a few days. Importers may shift to frozen products, but this channel also faces difficulties when refrigerated container bookings are limited or temporarily suspended. Storage and demurrage costs increase significantly, while prolonged storage times raise the risk of product quality deterioration.

“If the conflict persists, rerouting shipping routes could become the new norm. Insurance premiums will remain high, war risk surcharges will continue to apply, and refrigerated container capacity into the Gulf region will remain limited. In that scenario, seafood import costs into the Middle East could remain elevated for several months and may trigger price volatility in related markets,” Ms. Hang said.

Coffee and fruit sectors face uncertainty

Although the conflict is concentrated in the Middle East, exports to Europe have also been affected. On the evening of March 2 (Vietnam time), the London coffee exchange opened its first trading session of March with sharp price increases.

By the close of trading, May 2026 robusta futures had risen by USD 148 per ton to USD 3,772 per ton. Similarly, arabica prices increased by USD 80 per ton to USD 6,270 per ton.

Thai Nhu Hiep, Chairman of Vinh Hiep Co., Ltd., one of Vietnam’s leading coffee exporters, said the price movement reflects how commodity markets react to current geopolitical tensions. If the situation persists, commodity prices could continue to rise and Vietnam’s coffee exports may be affected.

“At present, maritime transport routes from Vietnam to Europe have not yet been significantly disrupted. However, if military tensions expand, the Red Sea crisis that occurred two years ago could return, which would have a major impact because Europe is the primary market for Vietnamese coffee,” he said.

Europe and the Middle East have also recently emerged as expanding markets for Vietnamese fruit and vegetable exports. In 2025, Vietnam’s fruit and vegetable exports to Europe exceeded USD 477 million, three times higher than in 2021. This growth has helped diversify export markets and gradually reduce reliance on a few primary destinations.

Huynh Canh, Chairman of the Binh Thuan Dragon Fruit Association (Lam Dong), said that when conflict occurs, exports to Europe face significant difficulties. With many flights canceled, air freight rates have increased by as much as USD 1.5 per kilogram, rising from USD 4 to USD 5.5 per kilogram.

Higher transportation costs push selling prices upward, causing Vietnamese products to lose price competitiveness against goods from other countries. If tensions persist, Vietnam’s fruit and vegetable supply to the EU could be significantly affected.

Over the past three to four years, Vietnamese enterprises have also been expanding exports to Middle Eastern markets, where growth prospects had been promising. However, the outbreak of tensions has led to temporary suspension of shipping routes to the Middle East, causing shipments to the region to stall. Enterprises are now monitoring developments closely and seeking alternative solutions for pending cargo.

Tran Quoc Manh, Chairman of Sadaco Production and Trading Development Joint Stock Company, said several shipments that were scheduled to depart earlier in the week were halted after shipping lines announced service suspensions. Some partners have requested temporary shipment delays, while others traveling to Vietnam for business meetings have been stranded in Dubai.

“There are many unexpected situations and challenges that we cannot fully anticipate. Personally, I hope the current tensions will soon ease or stabilize, because otherwise they will pose major challenges to global trade and economic activity,” he said.

Source: Bao Thanh Nien