News / Bunker surcharges resurface – 'justified by oil price spike', say carriers

05/10/2021

As oil prices spike to multi-year highs of $80 a barrel, ocean carriers are preparing to dust off their bunker surcharge mechanisms to mitigate the impact.

Although several carriers, including CMA CGM and Hapag-Lloyd, have capped further FAK rate increases, surcharges were specifically excluded from their rate moratoriums.

Rotterdam-sourced LSFO (low-sulphur fuel oil) increased a further $4 yesterday, to $560 a tonne, having jumped 20% since the end of August.

This increase alone will add over half a million dollars of cost to ...