Maersk temporarily waives Environmental Fuel Fee it had introduced in December

Maersk announced that with the recent drop in fuel prices, the company has reset the EFF (Environmental Fuel Fee) fee to zero as of May 10. This follows Maersk’s introduction of the fee in December 2019, to cover the increased in, and volatility of fuel costs associated with the IMO 2020 regulation. The EFF value is revised monthly to show developments in fuels with low sulfur content.

According to the company, any significant increase or decrease will be divided equally between Maersk and its customers at this early stage of IMO 2020.  This policy will be maintained until prices increase. The expectation is that fuel prices will remain highly volatile. The EFF is applicable to all of Maersk’s spot contracts and those valid for up to three months.

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