Shipping lines increase transport costs, as rising prices for oil in the lands of their increasing fuel costs. This is probably as a result, the cost of imported goods increases.
Maersk, the world’s largest shipping business, has joined rival Mediterranean shipping company (MSC) in flip-flops. additional fee for shipping costs to offset their rising costs.
Danish businesses will increase freight rates, ranging from 20pc next month, saying that the standard allowances, which she uses to combat the rising price of oil is no longer able to cover the increase.
Earlier this week, MSC said it introduces similar measures, telling the buyers that the situation was “Extraordinary and not sustainable.”
Maersk, the world’s largest shipping line, blame the quarterly loss on higher fuel costs
Explaining the price increases, the MSC added: “fuel prices rose by more than 30 this year, and almost 70pc since June of last year. Prices [marine fuels] in Europe exceeded $ 442 $per metric ton last week. Crude oil is trading around $ 80 per barrel — the highest since 2014”.
Warning customers higher rates, maersk said the increase in prices for vehicle fuel has been “significantly higher than expected”, hitting $440 per ton.
Almost 90pc of good trading travels the world by sea, and high fuel prices ultimately likely to be passed on to consumers, with other shipping lines are following suit.
The oil price has risen almost 50pc so far this year in connection with the growing tension in the middle East and the collapse of the Internet Iran nuclear sanctions.
About 90pc of the goods in world trade is transported by sea, a lot of standard shipping containers
Earlier this month, maersk said it will cease cooperation with Iran as the consequences of introduction of sanctions against this country, ending the nascent business.
This news comes less than two weeks after the maersk shocked the market, announcing the first quarter loss of $123m height, with the fuel prices cited as the most important factor.
Revealing unsatisfactory results, chief Executive Soren of skou said that the company’s performance was “unsatisfactory” and said that he will put “short-term initiatives aimed at improving profitability.”