Maersk Increasing Peak Season Surcharge Amid Continuing Red Sea Disruptions
Maersk has increased its Peak Season Surcharge as the company continues to reroute around the Cape of Good Hope for the "foreseeable future" because of Yemen-based Houthi attacks on commercial ships in the Red Sea (see 2401290052), the ocean carrier said May 6. The higher charges are being put in place to offset the cost of the longer journeys, increased sailing speeds and additional fuel costs.
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Maersk is using 40% more fuel per journey and charter rates are three times higher, the company said. Maersk also estimates that there will be an "industry wide capacity loss of 15-20% on the Far East to North Europe and Mediterranean market" during the second quarter this year.
The carrier added that the situation in the Red Sea has "intensified" over the last few months and the "risk zone" of attacks has expanded and is reaching further offshore, causing Maersk's vessels to lengthen their journey further, the company said. This has led to bottlenecks, "vessel bunching," delays, equipment shortages and capacity shortages, Maersk said.
Federal Maritime Commission Chairman Daniel Maffei recently said the commission has been pushing carriers to be more transparent with shippers about Red Sea-related surcharges (see 2405020067).