According to the official website of CMA CGM and multiple industry media reports, CMA CGM issued Circular No. 12 on July 21, announcing that due to the escalation of hostilities in the Strait of Hormuz, an emergency fuel surcharge will be imposed globally from August 1, 2026 until further notice.
Due to the escalation of hostilities in the Strait of Hormuz in the past few days, fuel prices have risen sharply again, reversing the easing trend of recent weeks. As a result, fuel costs have significantly increased in all regions and routes, driving up overall shipping costs, "said CMA in the announcement.
The fuel surcharge that was just reduced half a month ago has now risen back.
How much has it increased? Divided into three levels: the first leg costs $150-165, while the return and regional routes cost $75-90
This EFS is divided into three levels:
Long distance main route (first leg):
1.Dry goods box: $150/TEU
2. Refrigerator: $165/TEU
Long distance return route:
1.Dry goods box: $75/TEU
2.Refrigerator: $90/TEU
Regional routes:
1.Dry goods box: $75/TEU
2.Refrigerator: $90/TEU
The first leg of the route costs $150 for dry containers and $165 for refrigerated containers, while the return and regional routes are directly reduced by half to $75/90. Freezing cabinets are 10% to 20% more expensive than drying cabinets, so pay attention to calculating separately for those doing cold chain.
Why is it rising? Hormuz's oil price 'roller coaster'
On July 6th, Maersk and Hapag Lloyd announced the return of the AE15 route to Suez, and the industry once believed that the window for resuming operations in the Red Sea had opened.
But the Houthis immediately announced a maritime blockade against Saudi Arabia, putting the Red Sea route at risk of being shut down again. The US and Iran have been attacking each other for 10 consecutive days, and traffic in the Strait of Hormuz has slowed down again. The conflict has spread to the Mandeb Strait.
Just now! Houthi militants announce 'blockade' of Saudi shipping, Red Sea shipping risks escalate again.
Oil prices follow geopolitics. Previously, EFS had just fallen back, but now it has been pushed back up again. CMA's announcement stated that it has reversed the easing trend of recent weeks. This is a true portrayal of the situation in Hormuz.
Compared to ONE's EFS: whose knife is faster?
On July 21st, ONE just announced the adjustment of EFS, with the first leg of long haul dry containers priced at $75/TEU and refrigerated containers priced at $100/TEU. The next day, Dafei directly released a "new price list" of $150/165, which was twice as expensive as ONE's dry cabinet.
|
|
|
|
|---|---|---|
| Initial dry cabinet |
|
150USD/TEU |
| Initial freezer |
|
165USD/TEU |
| Return dry container |
|
75USD/TEU |
| Regional dry cabinet |
|
75USD/TEU |
ONE: Update on Emergency Fuel Surcharge for Global Airline Routes
CMA not only has a higher amount, but also takes effect two weeks earlier than ONE. It is worth closely monitoring whether other shipping companies will follow up.
A few judgments for reference:
Starting from August 1st, the cost of all CMA routes will increase directly
Especially for long-distance main routes, dry container costs of $150/TEU and refrigerated container costs of $165/TEU are hard costs. It is recommended to separately list the "EFS surcharge" item in the recent quotations to customers and indicate that "the rate is based on the actual standard on the date of shipment".
Return and regional routes are relatively mild
The rate of $75/90, although lower than the first leg, is not a small amount. If customers have short distance transportation needs within the Middle East region, CMA's EFS is also applicable.
The two rounds of EFS adjustments by ONE and CMA have sent a signal that Hormuz's risk premium is being re priced
Whether it's emergency access plans or detours around Cape of Good Hope, all operating costs related to Middle Eastern routes are rising. It is recommended to consider the geopolitical risk premium as an independent cost item when making quotations related to the Middle East and Red Sea routes, rather than simply including it in the "ocean freight".
Pay attention to the follow-up actions of the shipping company in the future
CMA is the second large shipping company to adjust EFS. If the situation in Hormuz continues to be tense, other shipping companies such as Maersk and Hapag Lloyd are likely to introduce similar surcharge adjustments in the next one to two weeks. It is recommended to continue monitoring the announcements of various shipping companies.
