Shipping lines operating between the Far East and the Gulf have agreed to raise the Emergency Bunker Surcharge (EBS) by 10 per cent to $214 (Dh785) for 20-foot containers and $428 for 40-foot containers.
Captain Mansour A Ghafoor, Head of the National Association of Freight and logistics, revealed the increase will come into effect in January. He said the rise in the surcharge is a result of the sharp rise that occurred recently in the price of oil, which hit an all-time high in November, rising beyond the level of $99 per barrel.
The oil price shock has pushed shipping companies to review surcharges on a monthly basis, as opposed to once or twice a year earlier.
Captain Ghafoor said the shipping lines also agreed to impose additional surcharges on 20-foot containers with cargo of more than 15.5 tonnes. A $150 surcharge will be imposed on any container whose load is over 15.5 tonnes. The surcharge will go up to $300 if the weight is more than 20 tonnes.
Earlier this month, the EBS for 20-foot containers was $195, and that for 40-foot containers was $390.
EBS on 20-foot containers coming from Europe is $400, while the EBS on 40-foot containers is $800, said Ghafoor.