Ocean Network Express (ONE), an integration between 'K' Line, MOL and NYK, has introduced a bunker surcharge due to a progressive and significant inflation of fuel costs over recent months, it says.
“Bunker fuel prices have increased by more than 25% during 2018 and could escalate still further,” states ONE which adds the surcharges are effective at various dates from July onwards.
“This sustained surge in fuel costs has greatly impacted our cost base.
“The escalating cost situation has now reached the point at which ONE are forced to respond by adjusting our approach to bunker related pricing components.”
ONE is the latest firm to join other shipping companies such as Maersk, CMA CGM and MSC which have respectively introduced emergency bunker surcharges (EBS) due to an increase in bunker prices in 2018.
The Global Shippers’ Forum (GSF) in early June says it unwelcomes the shipping industry’s introduction of “emergency” bunker surcharges in response to rising fuel costs.
Related: Maersk, CMA CGM introduce bunker surcharges
Related: MSC issues temporary emergency bunker surcharge
Related: GSF: Emergency bunker surcharges ‘unwelcomed’
Photo credit: Ocean Network Express
Published: 8 June, 2018
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