PARIS: CMA CGM will impose an emergency fuel surcharge following the renewed escalation of hostilities in the Strait of Hormuz effective August 1, the French shipping firm said in a notice posted on its website.
"Following the renewed escalation of hostilities in the Strait of Hormuz over the past days, fuel prices have surged sharply again, reversing the easing observed in recent weeks. As a result, bunker costs have significantly increased across all regions and trades, impacting the overall cost of ocean transportation," the firm said.
The surcharge, which will range from $65 to $165 per container, will be in place until further notice.
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