As CMA CGM explained, based on the Brent average price in November, the EBS amount will be non-applicable as from January 1st, 2019 until further notice.
Before this announcement, CMA CGM had decided to favor the use of 0.5% fuel oil for its fleet, and to invest significantly:
- By using LNG to power some of its future container ships (9 ships on order), resulting in a 99% reduction in sulphur emissions;
- By ordering several scrubbers for its ships.
These measures represent a major additional cost estimated at an average of 160 USD / TEU. For this the company had noted that the additional cost will be taken into account through the application or adjustment of fuel surcharges on a trade-by-trade basis.
What is more, recently the shipping giant had increased bunker surcharge for short sea lines and the Mediterranean, as from December 1st, 2018.