The blockage of the Suez Canal has caused a German shipping giant to spend over 50 million dollars extra per week.

Since the beginning of the US-Israel-Iran conflict on February 28th, the passage through the Strait of Hormuz has been continuously disrupted. On May 8th local time, Nils Haupt, a senior executive at the German shipping giant Hapag-Lloyd, stated in an interview that since the outbreak of the conflict, the company has incurred at least an additional $50 million in costs each week on average. Nils Haupt, senior executive at Hapag-Lloyd: This conflict has caused Hapag-Lloyd to incur at least an additional $50 million in costs each week, and for the entire logistics industry, whether it is land transport logistics companies, airlines, or container shipping companies like us, the biggest cost is fuel. At present, it is unlikely that fuel prices will decrease significantly in the coming days or weeks.