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CMA CGM extends bunker fuel surcharge

The world's third largest container line CMA CGM has extended its emergency bunker surcharge.

The $55/EUR45 per dry teu, and $85/EUR75 per reefer teu surcharge was introduced by the line last month for all long haul, worldwide trades in response to the sharp rise in bunker fuel prices this year which have followed the jump in the crude oil price. This has now been extended for the month of July.

“Because bunker prices have remained high, the CMA CGM Group has decided to maintain these measures. Consequently, as from July 1 (date of loading), these bunker-related surcharges, based on the average of bunker prices in May, will be applied to all long-haul cargo Worldwide,” CMA CGM said in statement. There will be a seperate charge for European shortsea trade.

The price of IFO380 stood at $470.50 per tonne in Singapore on Friday according to Ship & Bunker.

The surcharge will be review on a monthly basis.

Other major lines including, Maersk Line, MSC and Ocean Network Express, have also introduced bunker surcharges.

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