As oil prices spike to multi-year highs of $80 a barrel, ocean carriers are preparing to dust off their bunker surcharge mechanisms to mitigate the impact.
Although several carriers, including CMA CGM and Hapag-Lloyd, have capped further FAK rate increases, surcharges were specifically excluded from their rate moratoriums.
Rotterdam-sourced LSFO (low-sulphur fuel oil) increased a further $4 on October 4, to $560 a tonne, having jumped 20% since the end of August.
This increase alone will add over half a million dollars of cost to an Asia-North Europe round trip, and carriers seem to believe that, despite the currently high freight rates, they must take action to keep their costs in check.
Read more in an article from The Loadstar.< Return