News / No sympathy for carriers from shippers who must foot the bill for bunker hikes

Photo 84652210 © Valerii Kadnikov - Dreamstime.com

Higher fuel costs are triggering increases in ocean carrier bunker surcharges, adding more misery for shippers already struggling with record high freight rates and additional fees.

Today’s price for low-sulphur fuel oil (LSFO) at Rotterdam is just under $500 per ton, which is up 25% since the beginning of the year and some 60% higher than in November.

And carriers are busy resetting their fuel increase recovery mechanisms, effective today or from 1 April, to reflect the higher bunker costs.

Moreover, the spread ...