ONE Becomes Latest Carrier to Apply Bunker Surcharge
Image courtesy of ONE.
Ocean Network Express (ONE) announced yesterday that they will introduce a bunker surcharge in response to rising fuel costs — following suit with carriers Maersk, CMA CGM, and MSC.
Bunker fuel prices have continued to rise in recent months, increasing 25% in 2018, currently valued at $80 a barrel — the highest since 2014.
The surcharge has been rolled out in July on a widespread basis, affecting all trade lanes and regions — hitting a maximum of $110 dollars per TEU.
Read the technical paper from Simon Bennett of the International Chamber of Shipping giving an overview of the IMO's new GHG strategy to cut emissions
In the official release, ONE states: “ONE continues to explore all avenues to mitigate fuel consumption and costs for the benefit of the environment and supply chain costs of our valued customers.”
The rising fuel prices have had major impacts on leading carriers, with MSC claiming it has had to pay more than 30% for its fuel prices this year.