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Leading ocean carrier Maersk Line has announced that it will be increasing its bunker fuel surcharges for trades between the Middle East, the Indian Subcontinent (including Bangladesh), the Red Sea and Europe.

Effective March 1st, the revised surcharges will be $150 per twenty-foot equivalent unit (TEU) and $300 per forty-foot equivalent unit (FEU), up from $140 and $280 respectively, the company said in a statement.

The Danish shipping firm said that it also intends to implement a similar increase for cargoes moving from Far East Asia to South Africa and the Indian Ocean Islands.

The new surcharges will increase from $265 to $295 per TEU and $530 to $590 per FEU. They are also scheduled to come into effect on March 1st.