Bunker fuel challenges in the Middle East and Asia have prompted Maersk to move existing supplies in the United States and Europe to vessels in stock-depleting areas, Lars Jensen of Vespucci Maritime reports.
The Danish line had indicated that “they had experienced an inability to get bunker fuel from several suppliers in the Middle East and Asia”, the maritime intelligence consultant says.
Bunker Index reports that “the company noted that the conflict in the region has resulted in several refineries operating at reduced capacity or shutting down, while export capabilities have been significantly limited. These factors have contributed to disruptions in global fuel supply chains.
“To maintain network stability, Maersk said it had been redistributing fuel supplies to offset shortages in the Middle East while securing alternative sources from other locations and suppliers”.
At the same time, Maersk announced the introduction of an Emergency Bunker Surcharge (EBS).
The line said in a statement: “The evolving security situation in the Middle East continues to be challenging, impacting logistics and customer supply chains.
“Twenty per cent of global fuel moves through the Strait of Hormuz, and the current situation surrounding the strait has significantly impacted global access to fuel. To safeguard cargo integrity and maintain the stability of our network, which includes ensuring fuel availability for cargo movements, we are now taking additional proactive operational measures.
“Due to the current situation, we have seen no other alternative than to implement a temporary EBS. This surcharge covers the impact of fuel availability, cost and mix outside of what is covered in our Fossil Fuel Fee (FFF); this means we are better positioned to have the necessary access to fuel and the ability to move it to necessary locations.”
Maersk says the surcharge will apply globally without exception, subject to regulatory approval, and updated levels will be published after each 14-day review period.
Jensen added that bunker prices were continuing to increase.
“The global average is now US$768 per tonne for IFO380 (intermediate fuel oil) and 979 USD/ton for VLSFO (very low sulphur fuel oil) compared to 468 USD/ton and 576 USD/ton before the Hormuz crisis.”
These prices aligned with those provided by Bunker Index on Friday morning, March 13.
