CMA-CGM Makes Fuel Charge Permanent To Avoid Hapag-Lloyd and NYK’s Fate — Panjiva


CMA-CGM Makes Fuel Charge Permanent To Avoid Hapag-Lloyd and NYK’s Fate

Corp - Shipping 608 Earnings 365 Energy - Bunker Fuel 63 Energy - Crude Oil 195 Global 722 Mode - Containerized 1005 Mode - Seaborne 1273 Theme - Rates 141

CMA-CGM has extended its “emergency bunker surcharge” indefinitely from an original end-July termination date. That’s come just as bunker fuel rates have fallen 3% from their over-three year highs at the end of June due to lower oil prices, shown by S&P Global Platts data. While fuel surcharges implemented across the sector have pushed container rates up 12% from their early May lows they are still only back at March 9 levels. At that stage bunker fuel were 17% lower than they are now. CMA-CGM will be keen to avoid following Hapag-Lloyd and NYK in having to warn about its profit out...

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