Rising transport costs resulting from the conflict in Iran will be passed on to consumers, Maersk CEO Vincent Clerc told the BBC.

The shipping company has mechanisms in place that allow changes in fuel prices to be automatically transferred to customers.

Since the outbreak of the war involving the US, Israel, and Iran, oil prices have risen sharply, peaking near 120 dollars per barrel, and currently sit around 87 dollars—approximately 20 percent higher than before the conflict.