Worldwide Maritime Transport: Emergency Bunker Surcharge (EBS)
Facing the surge in fuel prices for several months, hitting the highest level ever reached since 2014, carriers will apply an Emergency Bunker Surcharge (EBS) as of June 1st thus affecting as well transportation costs.
To give you an idea, between the end of May 2017 and the end of May 2018, the price of Brent crude oil jumped from approximately $52 to $77 a barrrel. The situation is likely to continue on this same trend especially because the demand is getting stronger, due to the fact that the volume of transported goods is on the rise as well as the ever-increasing oil demand from emerging & developing countries.
Consequently, an increase in transportation costs on the 2nd half of 2018 is to be expected.