Logistics firm Maersk has said this year’s increases in fuel prices, provoked by the conflict in the Middle East, have added $500 million per month to its operating costs.

The shipping company’s chief executive, Vincent , said Maersk saw no alternative but to pass the additional costs on to customers.

He said the company would try “to press the cost-saving agenda further”, but insisted Maersk had to protect its margins and its “operations integrity going forward”.

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