World News
Maersk Implements Emergency Bunker Surcharge Amid Middle East Crisis
Container shipping firm A.P. Moller Maersk has joined other container lines by implementing a temporary emergency bunker surcharge as fuel prices surge amid escalating tensions in the Middle East.
The move comes as the security situation around the Strait of Hormuz, a key passage for roughly 20% of global fuel trade, disrupts access to fuel and impacts logistics, the firm said in an announcement on its website on Tuesday.
The surcharge is intended to cover fuel availability, cost and supply mix beyond what is included in Maersk’s existing Fossil Fuel Fee, allowing the carrier to secure alternative fuel sources and redistribute supplies where needed.
The emergency bunker surcharge will apply globally from March 25, subject to regulatory approvals, and will affect both dry and refrigerated containers.
Charges on long-haul head-haul dry containers will range from $200 for 20-foot units to $400 for larger containers, while reefer containers will face surcharges of up to $600.
Maersk said the surcharge will be reviewed every 14 days and adjusted depending on fuel availability and costs.
CMA CGM and MSC have also introduced emergency bunker surcharges.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 1049.00 | 1.50 | 1679.50 | 83.50 |
| Rotterdam | 748.00 | 22.00 | 1127.50 | 59.50 |
| Houston | 685.00 | 33.50 | 1077.00 | 38.00 |
| Fujairah | 1018.00 | 100.00 | 1433.50 | 83.00 |
| Global 20 Ports Average | 960.00 | 53.00 | 1379.00 | 94.00 |
| Global 4 Ports Average | 875.00 | 22.00 | 1329.50 | 47.00 |
| Global Average Bunker Price | 920.50 | 59.00 | 1315.00 | 60.00 |
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