Maersk to raise emergency fuel surcharge to 20% from October 12 — Asharq Al-Awsat

Danish shipping group Maersk said it will raise its emergency fuel surcharge (EFS) to 20% from October 12 due to the ongoing conflict in the Middle East. The increased surcharge will apply to all export cargo pickup and import cargo delivery operations.

Surcharge review

As Asharq Al-Awsat reports, the company announced the change in its statement. Maersk also noted that it will regularly review the size of the emergency fuel surcharge.

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Rising oil prices

On Thursday, oil prices rose amid concerns over supplies from the Middle East. The publication links this to an increase in attacks on shipping in the Persian Gulf and the Strait of Hormuz. Among other factors, it cites a reduction in production in the United States due to a hurricane that threatened offshore output.