Singapore sea freight companies hit with 50% fuel surcharge; war insurance premium also jacking up costs
One firm had to reroute cargo of used car parts to Dubai via India, raising the shipping cost five times
Add BT as a preferred source
[SINGAPORE] Sea cargo shipping is getting costlier, burdened by a host of surcharges stemming from higher oil prices in the wake of the Strait of Hormuz’s de facto closure amid the Middle East war.
Carriers have imposed several additional fees, ranging from emergency fuel costs to war risk premiums.
Vendors that provide towing services operated by diesel vehicles at depots are also passing on the extra fuel charges to shippers.
TRENDING NOW
Qatari LNG ship struck in Strait of Hormuz, testing US talks
DBS, OCBC and UOB shares hit all-time highs as sentiment improves
‘Baptism of fire’: Andre Khor on leading Singapore refiner Aster through an energy crisis
Singapore retains top spot as most expensive city for HNWIs, with five Apac cities in global top 10
