CMA CGM drops Jan Emergency Bunker Surcharge

Mon 3 Dec 2018, 16:38 GMT

CMA CGM drops Jan Emergency Bunker Surcharge

Follows November's 18% decline in the average Brent price.

The 18,000 container capacity CMA CGM Kergeulen.

Image credit: CMA CGM

CMA CGM confirmed on Monday that its Emergency Bunker Surcharge (EBS), which has been in place since June, will not be applicable as from January 1, 2019.

The French boxship operator explained that the decision was based on the evolution of the average Brent crude oil price during the month of November.

Last month, the Brent end-of-day settlement price nosedived from $72.89 per barrel on November 1 to $58.71 per barrel on November 30 - a decline of $14.18, or 19.4 percent.

The average Brent settlement price in November was $65.95 per barrel, which was a decrease of $14.66, or 18.2 percent, on the previous month's average of $80.61.

CMA CGM noted that other bunker-related surcharges may apply; they are accessible at http://www.cma-cgm.com/ebusiness/tariffs/charge-finder.

The EBS is reevaluated every month.

CMA CGM Container ship France


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