Bunker Surcharge Increase
By Splatty • Dec 4th, 2005 • Category: Seafreight
Get ready for an increase in BAF fees for 2006…
Neptune Orient Lines, Evergreen and 10 other steamship lines announced that they will raise the bunker surcharge on containers from Asia to the United States by 30% in order to combat rising fuel costs. The increase is scheduled to begin on January 1, 2006.
Starting Jan. 1, the 12-member Transpacific Stabilization Agreement that accounts for about 70 percent of trans-Pacific trade will raise its bunker surcharge by 30 percent to $590 per 40- foot container, based on a 13-week calculation up to Nov. 23, the group said in an e-mail message Friday.
Neptune Orient, Evergreen Marine and other Asian shipping lines are struggling with rising costs from higher fuel prices and port fees, amid increased demand for freight. Higher fuel prices will inflate the cost of moving cargo to the United States in 2006 by 7 percent, which may spur shipping lines to raise rates.
“Container shipping lines that carry cargo from Asia to the U.S. are still feeling the heat of high bunker fuel prices,” the group said.
Stumble it!
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