EUROPE/RED SEA/MIDEAST CONFERENCES LOWER FUEL CHARGE
Two conferences of shipping lines in the trade connecting Europe, the Red Sea and the Mideast have announced decreases in their bunker surcharges.
The Jeddah Service Group and the Europe Middle East Rate Agreement will lower their bunker adjustment factors from $45 to $35 per TEU on June 5.
The conferences said that the decreases reflect lower bunker costs.
Jeddah Service Group lines are CMA CGM, Hapag-Lloyd, Maersk Sealand, National Shipping Co. of Saudi Arabia (NSCSA), NYK, P&O Nedlloyd and United Arab Shipping Co.
The Europe Middle East Rate Agreement carriers are Andrew Weir Shipping (Ellerman), CMA CGM, DSR-Senator Lines, Hapag-Lloyd, Maersk Sealand, P&O Nedlloyd, Safmarine (CMB Transport) and UASC.