due to the decline in energy prices, Hapag-Lloth, Maersk and other shipping companies to reduce fuel surcharges. This also means that the fuel surcharge paid by cargo owners to shipping companies is reduced.
Both Hapag-Lloth and Maersk cut their fuel surcharges during the summer, consultancy Alphaliner said, adding that this was a general trend among major liner companies. Overall, fuel prices in the second quarter were down 35 percent compared to last year.
Alphaliner pointed out that the market's concern about global demand has surpassed the impact of the conflict between Russia and Ukraine and has become the main factor determining oil prices. This trend may help shipping companies in the new market conditions to remain profitable.
Last week the Rotterdam traditional heavy fuel oil IFO380 price per ton of 454 US dollars, compared with 2022 per ton of 642 US dollars.
Maersk wrote in its first-quarter report that compared with the previous year, fuel costs rose 2.3 per cent, while Hapag-Lloth's costs rose 7.3 per cent.
According to Alphaliner reports, the two shipping companies in April to June period are reduced fuel surcharges, July to September will be the same.
Hapag-Lloyt's fuel surcharge (MRF) was $397 per TEU in the third quarter, down from $441 per TEU in the second quarter. For Maersk, the MRF for the Far East-US East Coast route was $842 per TEU from July 1, down from $889 in the second quarter.
Source: Shipping Industry