COSCO Shipping Lines has announced the implementation of an Emergency Bunker Surcharge (EBS) for all containerized cargo heading to or via ports on the US East Coast, Gulf Coast, and West Coast. This new charge will be applied across both their Trans-Atlantic Trade (TAT) and Trans-Pacific Trade (TPT) services. The EBS will affect shipments booked under standard tariff rates and, unless otherwise specified, will also apply to cargo moving under existing service contracts.
For freight forwarders and shippers, this surcharge represents an additional cost that will impact overall shipping expenses to the United States. It is crucial for operations managers to factor this into their pricing and budgeting for US-bound cargo. The imposition of an EBS typically reflects a sudden or significant increase in fuel prices, which carriers pass on to maintain profitability. Forwarders should review their contracts with COSCO to understand any specific exemptions or clauses related to such surcharges and communicate these changes to their clients promptly. This could lead to adjustments in quotes and potentially affect the competitiveness of certain routes or services.