Due to increasing oil prices, CMA CGM announced that it will adjust the amount of the Emergency Bunker Recovery measure to recover this increase. The new measure will be valid from December 1st, 2018, until further notice.
Because of rising oil prices, the CMA CGM Group has decided to adjust the amount of the measure to recover this increase.
As a result, as from December 1st, 2018 the new amount of this measure will be applied to short sea lines in Europe, as well as in the Mediterranean, with the following amounts:
A mandatory surcharge constitutes a part of the rate which is not covered by the basic ocean freight. Surcharges are established by every company to cover cost items or services that are either pass-through charges or beyond the basic ocean transport services. These surcharges are applicable to every shipment.
Emergency bunker recovery surcharge has a direct connection to volatility of oil price. Bunkers are determining factors on surcharges of every company as we can see in the recent implementation of low sulphur surcharge from most of the major container shipping companies.
On September, Maersk informed that it will change the fuel adjustment surcharge ahead of the 2020 sulphur cap, MSC followed on the same page and recently CMA conformed with the measure in China.
