Carrier fuel surcharges to rise sharply for shippers in 2024

Posted on December 18, 2023   |  

Container carriers are planning significant increases in bunker adjustment factors (BAFs) in the upcoming year due to new trade and regulatory challenges.

BAF tariffs have been substantially revised upward across trade lanes starting from January 1, with variations among different carriers.

CMA CGM, for example, has revised BAF rates for dry cargo shipments from Asia/Far East to the US East Coast, with specific rates for different container types.

Similar revisions have been announced by other major carriers like Maersk and Zim lines.

Carriers face the challenge of convincing cargo owners to absorb the considerable BAF increases, considering ongoing concerns about demand in the market.