Due to the current geopolitical and economic developments worldwide, global fuel markets have experienced unprecedented volatility, resulting in substantial and continuous increases in fuel prices.
In several jurisdictions, governments have imposed restrictions on fuel exports and/or have introduced significant additional taxation on fuel products. These developments have materially impacted the availability and cost of bunkers for our vessels. In certain regions, the availability of fuel has become severely constrained, and when supply is available, it is often offered at exceptionally elevated prices. Even at our regular bunkering ports where supply remains accessible, we are experiencing daily price escalations.
These circumstances are extraordinary and fall well beyond the scope of normal market fluctuations that could reasonably have been anticipated at the time our freight agreements were concluded. As such, we are compelled to regard this situation as a force majeure event affecting the economic viability of our operations under the existing contractual pricing structure.
In order to maintain the continuity of our liner services, we are therefore required to revise the Emergency Bunker Surcharge (“EBS”).
Effective as from the next sailing, mv UAL Harrier 426079, the EBS will be adjusted to:
Breakbulk: EUR 24,00 w/m or USD 27,50 w/m
Containers: EUR 415,00 per TEU or USD 475,00 per TEU
We will continue to closely monitor developments in the fuel market and reserve the right to adjust the EBS as circumstances require.
We appreciate your understanding and cooperation during these exceptional market conditions.
Sincerely,
Roy van Brummen
Line Manager