economy
Maersk Slaps Emergency Fuel Surcharge as War Upends Marine Supply Chains
Stalled tanker traffic at Strait of Hormuz is tightening supplies of fuel in Asia
TL;DR
- Marine fuel prices have skyrocketed, and supply is running low due to the war in the Middle East.
- Stalled tanker traffic at the Strait of Hormuz is tightening fuel supplies in Asia.
- Key bunkering ports, like Fujairah, have become largely offline.
- Shipping companies are redistributing fuel volumes and securing alternative sources at higher costs.
- Maersk has introduced an Emergency Bunker Surcharge (EBS) due to fuel supply fluctuations and increased distribution costs.