Zim to implement bunker surcharge

Cargo shipping firm to introduce Emergency Bunker Surcharge in July.



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Updated on 29 Jun 2009 11:07 GMT

Zim Integrated Shipping Services has announced that it will be implementing an Emergency Bunker Surcharge (EBS) as a consequence of the recent rise in bunker fuel prices.

In a statement the Israel-based cargo shipping company said the new surcharge of $75 per twenty-foot equivalent unit (TEU) would be effective from July 1st 2009.

The Emergency Bunker Surcharge applies to westbound trades from Asia and the Indian sub-continent to North Europe, Mediterranean, and Black Sea.

The surcharge will apply to all shipments where the Bunker Adjustment Factor (BAF) is included in the rate or fixed. Shipments where the BAF is separated and floating will not be affected by the Emergency Bunker Surcharge.

Zim said the Emergency Bunker Surcharge will be reviewed on a monthly basis.