EMEA News
CMA CGM Waives Low Sulfur Surcharge on VLSFO Slump
Thursday April 2, 2020
French container line CMA CGM has decided to cancel its low sulfur surcharge imposed to reclaim some of the cost of IMO 2020 compliance because of the recent slump in very low sulfur fuel oil (VLSFO) prices.
The charge will be waived from May 1, the company said in a statement on its website Wednesday.
"Taking into consideration the current price of VLSFO, CMA CGM informs its customers that this low sulfur surcharge is not applicable, and may come back later as per our formula," the company said.
VLSFO prices at Rotterdam have dropped from $586.50/mt at the end of 2019 to $217.50/mt on Wednesday, according to Ship & Bunker pricing.
