Liner carriers in the Transpacific Stabilization Agreement said that their floating bunker fuel surcharge will spike to a record level effective Sept. 1.
"The higher surcharge reflects record fuel prices that topped $767 per ton in mid-July, up from $500 at the beginning of 2008 and $296 at the beginning of 2007," TSA said in a statement.
TSA’s surcharge is adjusted monthly according to a formula that tracks world fuel prices at key loading locations.
Although fuel prices have been falling of late, each month’s surcharge reflects average fuel prices during a reporting period 30 to 60 days earlier, said Bill Payne, NYK Line vice president and TSA revenue policy committee member. This is done to comply with U.S. law requiring a minimum 30 days’ advance notice to the market in the event a particular rate or surcharge is to be raised.
The new fuel surcharges will be $1,886 per 45-foot container, $1,676 per high-cube 40-foot container, $1,490 per 40 footer, $1,192 per TEU and $33 per metric ton or cubic meter.
TSA members are: APL, “K” Line, China Shipping Container Lines, Mediterranean Shipping Co., CMA-CGM, MOL, COSCO Container Lines, NYK Line, Evergreen Line, OOCL, Hanjin Shipping Co., Yangming Marine Transport, Hapag-Lloyd, Zim and Hyundai Merchant Marine Co.
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