French container ship giant CMA CGM announced it will maintain the emergency bunker surcharges, as of 1 August, due to the increasing bunker prices since the beginning of the year.
As oil prices continue to be high, CMA CGM Group decided to maintain the measure to recover this increase.
Namely, the company said:
As a result, as from August 1st (date of loading in the origin ports) until further notice, this measure, based on the Brent average price in June, will be applied to all long-haul cargo Worldwide.
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In late May, Maersk, MSC, and CMA CGM, making up together more than 45% of the global container capacity, announced introduction of Emergency Bunker Surcharges, due to increasing fuel costs. This has erupted a wave of concern from global stakeholders of the maritime industry, including the Global Shippers Forum (GSF), the European Shippers’ Council (ESC), and the British International Freight Association (BIFA).
According to online freight forwarder iContainers, the EBS may be seen as a side effect of some as carriers’ efforts to inject more pricing transparency, but a better and more sustainable solution will be needed in the long run.
