CMA CGM extends bunker surcharge after August

CMA CGM extends bunker surcharge after August

CMA CGM, citing continued high oil prices, has extended its emergency bunker surcharge (EBS) well into the high season.

The world’s third largest container line notified that the measure, “based on the Brent average price in June”, will be applied to all long-haul cargo worldwide from August 1 (date of loading in the origin ports) until further notice.

CMA CGM had first imposed the emergency bunker surcharge of $55/EUR45 per dry teu and $85/EUR75 per reefer teu in June. This was further extended in July, and now looks like will be a permanent feature for the remainder of the peak season.

Other major lines, including Maersk Line, MSC and Ocean Network Express, have also introduced bunker surcharges.

The price of IFO380 in Singapore was quoted at $467.50 on July 25 according to Ship & Bunker.