Due to the Escalation of the Hormuz Strait Situation, CMA CGM to Impose Emergency Surcharge

BlockBeats News, July 22 — French shipping group CMA CGM announced on its official website that, due to the renewed escalation of hostilities in the Hormuz Strait, the company will impose an emergency fuel surcharge starting August 1. The company stated: "Due to the renewed escalation of hostilities in the Hormuz Strait over the past few days, fuel prices have surged significantly, reversing the easing trend observed in recent weeks. As a result, fuel costs across all regions and routes have risen sharply, driving up overall shipping costs." The surcharge will range from $65 to $165 per container and will remain in effect until further notice. (Jin10)