Business

Maersk raises emergency fuel surcharge due to Middle East conflict

 


COPENHAGEN:  Danish shipping group Maersk said on Thursday it was increasing its emergency fuel ⁠surcharge (EFS) on all export ⁠collections and import deliveries due to the ongoing conflict ‌in the Middle East.
Oil ​prices ⁠rose on Thursday ​on worries about ‌supply from the Middle East ​region amid an increase in attacks on shipping in the Gulf and the Strait ‌of Hormuz, while ​the US cut output ​as ‌a hurricane menaced ⁠offshore production.
Maersk said in a statement ​it was increasing its ⁠EFS ​to 20% as of October 12, and that it would continue ​to review the surcharge ​regularly.