Worldwide shipping and logistics companyCMA CGM Group on Wednesday (1 April) announced the temporary removal of its surcharge on low sulphur fuel.
The company said it introduced a Low Sulphur Surcharge (LSS20) on 1 December, 2019 to cover the increase in fuel-related costs associated with the implementation of IMO 2020 regulations.
After taking into consideration the current price of very low sulphur fuel oil (VLSFO), CMA CGM has decided that as of 1 May, 2020 this Low Sulphur Surcharge is no longer applicable and may come back later as per their company’s formula.
Additional notes from CMA CGM regarding pricing formulas:
(*) The associated basic freights are available here. Other Bunker related surcharges, THC (Origin and Destination), Peak Season charges and similar charges and Safety and Security-related surcharges may also apply and are accessible at http://www.cma-cgm.com/ebusiness/tariffs/charge-finder. Other charges such as Contingency charges and local charges may also apply.
Photo credit: CMA CGM
Published: 3 April, 2020
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