Rates update, week 51: GRIs boost prices, with more to come in January
Container spot rates on the transpacific trades shot up this week, on the back of ...
© Stefan Balaz
By Mike Wackett
Shippers are bracing for a raft of emergency bunker surcharges from ocean carriers, as oil prices hit eight-year highs.
Following Russia’s invasion of Ukraine, the price of crude oil has soared to its highest level since 2014, to more than $105 a barrel, with analysts predicting $130 within weeks.
Meanwhile, Rotterdam-sourced low-sulphur fuel oil (LSFO) spiked yesterday by more than $30, to $731.50 a ton, a 40% increase since December.
The Loadstar understands an emergency BAF was being considered by carriers before the events ...
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