Maersk Jacks Up Fuel Surcharge as Shipping’s Biggest Expense Spirals
- Container shipping giant Maersk announces fuel surcharge hike
- Ship-fuel prices soared after low-sulfur rule started Jan. 1
Shipping containers sit stacked on the Maersk Edinburgh cargo ship in the Port of Los Angeles in California.
Photographer: Patrick T. Fallon/BloombergThis article is for subscribers only.
The world’s largest container shipping line is hiking up a fuel surcharge that it imposes to transport boxloads of goods across the world’s oceans after new environmental rules sent the industry’s biggest expense spiraling.
Most of the world’s ships were forced to switch to burning fuel that’s lower in sulfur this year, causing costs to soar as the global refining industry adjusts to the new regime. In parts of India, vessels are at risk of coming to a halt due to limited supplies. Meanwhile, some new fuels have been found to contain potentially dangerous sediment.