Increased shipping costs driven by the conflict in Iran will be passed on to consumers, the boss of the world's second biggest shipping company has said.
"We have traditional contracting mechanisms that pass on this fuel fluctuation, whether they go up or they go down, onto the customers," Vincent Clerc, the boss of Danish shipping giant Maersk told the BBC in an exclusive interview.
"So what it means is that ultimately, in this case, these increases will pass to our customers and will pass on to the consumers."
He called on the US, Israel and Iran to come to "some kind of deal" to restore global trade routes in the Middle East.
The war between Iran and Israel and the US has brought two vital shipping routes to an almost complete standstill and caused widespread disruption to the global economy.
