Thanks to spiking bunker costs because of the surging oil price, which increased 25% on Monday morning to break through the $100-per-barrel mark, CMA CGM has instituted an Emergency Fuel Surcharge (EFS).
The French line said the EFS would come into effect on March 23 and remain in place until further notice.
The carrier says the surcharge is to absorb rising bunker prices and ongoing market effects of the war in the Middle East.
The additional EFS rates will be up to $180 per container, explicitly applying to 20-foot boxes, but they will vary according to trade direction, haul type and cargo.
On long-haul trades for head-haul cargo, the dry cargo and reefer rates are $150 and $180 per TEU, and $75 and $90 for backhaul cargo, also on dry and reefer long-haul trades.
The same back-haul rates on head-haul trade will apply for dry and reefer cargo on intra-regional trades.
Baird Maritime reports that the Marseilles carrier’s EFS announcement sets a precedent amid bunker prices exceeding $13 000/ton as a result of Middle East disruptions.
MSC has already followed with its own emergency surcharge effective March 16 for Europe-Red Sea/East Africa trades.
Effective March 16, trades from Mediterranean/Black Sea origins vary by destination and cargo type (all per TEU) and will be charged as follows:
Red Sea: dry $30/TEU; reefer $50/TEU.
East Africa: dry $60/TEU; reefer $90/TEU.
Indian Subcontinent: dry $40/TEU; reefer $60/TEU
