MAERSK Line will pass on higher fuel expenses to customers through bunker surcharges to avoid slowing the speed of its vessels down further in spite of bunker fuel prices being at a 30-month high.
"If we sail much slower, our customers may not be happy with the transit time," CEO Eivind Kolding told Reuters. "We're making sure that our higher oil costs are being covered by the bunker fuel charges that we add to the freight rates. As long as we're covered via the surcharge, we won't slow down any further."
A report by the American Shipper noted that since 2009 shipping lines have been slow steaming services to reduce fuel consumption and absorb surplus fleet capacity, a move prompted by the global financial crisis in autumn 2008.
"If we sail much slower, our customers may not be happy with the transit time," CEO Eivind Kolding told Reuters. "We're making sure that our higher oil costs are being covered by the bunker fuel charges that we add to the freight rates. As long as we're covered via the surcharge, we won't slow down any further."
A report by the American Shipper noted that since 2009 shipping lines have been slow steaming services to reduce fuel consumption and absorb surplus fleet capacity, a move prompted by the global financial crisis in autumn 2008.
