Maersk raises emergency fuel surcharge to 20% amid Middle East conflict
Maersk will raise its emergency fuel surcharge to 20% from October 12, citing the ongoing conflict in the Middle East, as oil prices climbed on worries over supply and attacks on shipping in the Gulf and Strait of Hormuz.
Danish shipping group Maersk said on Thursday it was increasing its emergency fuel surcharge (EFS) on all export collections and import deliveries because of the ongoing conflict in the Middle East.
The company said in a statement that it was increasing the EFS to 20 per cent as of October 12, and that it would continue to review the surcharge regularly, according to Reuters (source).
The announcement comes as oil prices rose on Thursday on worries about supply from the Middle East region, amid an increase in attacks on shipping in the Gulf and the Strait of Hormuz. US crude output was also cut as a hurricane menaced offshore production, Reuters reported.
The higher surcharge applies to both export collections and import deliveries, adding to the cost pressures shippers already face from elevated bunker fuel prices. Maersk did not say how long the increased rate would remain in force, only that it would keep the levy under regular review while the Middle East security situation continues to affect fuel costs and shipping lanes.
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