Carriers hope price hikes will hold as spot rates fall in CNY doldrums
Despite the muted trading activity since China’s new year holiday began this week, spot rates ...
© Mariusz Bugno, Dreamstime.com
By Mike Wackett
As oil prices head north again, ocean carriers are preparing to ramp up low-sulphur fuel surcharges to add to the misery of shippers struggling with sky-high freight rates, surcharges and premium fees.
Since early September, the price of Brent crude has increased by 41%, to $55 a barrel, with an 8% spike alone last week driven by Saudi Arabia’s pledge to cut output.
During the same period, heavy fuel oil (HFO), consumed by ships with exhaust gas scrubber systems, has increased by ...
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