Container shipping companies have imposed "last-resort" emergency bunker charges of $18-$65 per TEU in the past two weeks as a 16% rise in Brent crude a gloomy first quarter sends fuel costs soaring. The move by companies including CMA CGM, Zim, Hapag-Lloyd, Maersk and Mediterranean Shipping Company was met with criticism from customers, who have described the levies as "arbitrary". They've accused shipping firms of attempting to boost their balance sheets following this year and argue that contracts already account for bunker fuel variations.
Container shipping companies have imposed "last-resort" emergency bunker charges of $18-$65 per TEU in the past two weeks as a 16% rise in Brent crude this year sends fuel costs soaring. The move by companies including CMA CGM, Zim, Hapag-Lloyd, Maersk and Mediterranean Shipping Company was met with criticism from customers, who have described the levies as "arbitrary". They've accused shipping firms of attempting to boost their balance sheets following a gloomy first quarter and argue that contracts already account for bunker fuel variations.