Maersk raises surcharges as Red Sea risk expands and costs mount

Source: The Loadstar 
Date: 7th May 2024

The Loadstar reported that Maersk’s revised peak season surcharge on Asia-North Europe is set to triple from $250 per teu to $750 per teu from 11 May.

However, between 15% and 20% of capacity had been “lost” to the situation in the Red Sea that “has intensified over the last few months,” said the Danish carrier, which experienced a 13% drop in revenues in Q1.

It told customers: “To safeguard our crew, vessels and your cargo, we are rerouting around the Cape of Good Hope for the foreseeable future… this has forced our vessels to lengthen their journey further, resulting in additional time and costs to get your cargo to its destination for the time being.”

Maersk said. “The knock-on effects of the situation have included bottlenecks and vessel bunching, as well as delays and equipment and capacity shortages.”

Meanwhile, Maersk said diversion around the Cape of Good Hope required 40% more fuel per ship, and that further alterations to surcharges were likely.

“While we reduced the peak season surcharge recently, it has been increased again to help cover the additional costs. We will continue to review the surcharges regularly and will keep you up to date of any changes,” it told customers.

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