MSC became the first major liner major to take measures against the volatile fuel bills, as it announced fuel surcharges that will be reviewed on a fortnightly – not monthly – basis.
Namely, starting 15 April 2022, until conditions stabilise, MSC will be recalculating the Global Fuel Surcharge charged on a fortnightly basis tariff instead of a monthly basis tariff, for all spot and quarterly contracts on Asia trades, until further notice.
The current global political situation is creating major, and unpredictable, fluctuations on global fuel prices
In recent days, bunker prices have decreases in an an average price of $922.50, however many oil majors have tapped out from Russia. More specifically, Shell stopped buying Russian crude, aiming to phase out its involvement in all Russian hydrocarbons from oil to natural gas over Ukraine.
Moreover, British rival BP said last month it was abandoning its 19.75% stake in Russian oil giant Rosneft in an move that could cost it up to $25 billion. In a similar mover, TotalEnergies stopped buying oil from Russia, although one of its landlocked refineries in Germany continued to receive Russian crude by pipeline.
