In response to the impact of soaring marine fuel prices, the three major shipping giants, Maersk Line, CMA-CGM, and Mediterranean Shipping have all initiated emergency fuel surcharges. According to Alphaliner's data, Maersk Line, CMA-CGM, and Mediterranean Shipping earlier stated that they will impose an emergency marine fuel surcharge on approximately 45.1% of capacity in the container shipping market.
Earlier, three executives from Maersk, ONE and Orient Overseas stated at an industry conference that due to rising fuel prices, the shipping industry will face about US$10 billion in fuel expenses. This cost pressure should be shared by all aspects of the supply chain. .
The soaring fuel cost has caused the shipping companies to relapse into losses, and CMA-CGM loss in the first quarter was US$77 million. Maersk Line reported losses of 220 million U.S. dollars in shipping and logistics in the first quarter, of which shipments accounted for 68% of total revenue.
However, with the imminent date of the effective date of sulfur restriction, liner companies are also urgently seeking the most economical and effective ways to reduce sulfur. Rolf Habben Jansen, chief executive of Hapag-Lloyd, once said that sulfur-limiting orders will force companies to choose cleaner and more expensive fuels, and companies will invest more than $900 million in operating costs each year.
With regard to the increase in fuel costs, liner executives have agreed that if the extra financial burden is excessive, all costs in the supply chain must be shared.
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