Chip buyers in Europe are paying more and tapping backup stores as Iran war hits air freight

European companies that import semiconductors from Asia are tapping into backup stores and paying more for deliveries as the Iran war causes disruption to air freight routes through the Middle East, industry insiders have told CNBC. The Iran war has caused turmoil to cargo routes as shipping and airports have been targeted since the war began on Feb. 28. Global air freight capacity — which transports cargo such as semiconductors and other high-value electronics — is down around 9% compared to pre-war levels, according to data from logistics firm DSV. That's led to rising costs for European companies importing semiconductors from Asia and delivery delays, as well as some manufacturers importing fewer chips from the region because of those capacity constraints. Chips are a crucial component of all electronics. Companies from industrial giants and data centers to carmakers import certain chips from locations like China and Taiwan. "What you'll see in the next weeks is that inventory levels are trending down with the hope that [logistics costs] will normalize," Stefan Krikken, DSV's head of air freight , told CNBC, pointing to European automakers, which use semiconductors for a range of electronic systems on board vehicles. Other European companies were absorbing the increased air freight costs of chip imports, said Krikken. He added that DSV hadn't seen a "significant" drop in chip imports overall yet as a result of the conflict, but many buyers were paying premium costs to ensure continued delivery. One European chip company had experienced delays of a few days on some semiconductor deliveries, a person with direct knowledge of the matter told CNBC, who asked for anonymity discussing private business matters. Costs of air freight had risen, the source said, adding that the company didn't have visibility on whether prices would come down again in the coming months. watch now VIDEO 3:20 03:20 Trump’s 60-day shipping waiver could ease East Coast fuel prices: Goldman Sach...