CMA CGM Bunker Surcharge to Remain in Place Until Further Notice

by Ship & Bunker News Team
Friday July 27, 2018

CMA CGM Thursday announced it will keep a controversial emergency bunker surcharge in place "until further notice."

The surcharge of $55/TEU for dry and $85/TEU for reefers is based on the Brent average price in June, the carrier says.

First introduced in May alongside similar moves by MSC Mediterranean Shipping Company S.A. (MSC) and Maersk Line, the emergency bunker surcharges have drawn wide criticism from various industry stakeholders including the Global Shippers' Forum (GSF) who said it was "an unwelcome legacy of the cartel era" that has "no place in a modern liner shipping market."

The European Shippers' Council (ESC) has asked the European Commission (EC)'s Commissioner for Competition, Ms Margrethe Vestager, to investigate the matter.

But the carriers' maintain that rising bunker prices have forced their hand.

Alphaliner has also jumped to their defence, saying that by its calculations real container freight rates have fallen by more than 50% in the last 20 years.