Several major ocean carriers have recently announced new Energy Fuel Surcharges (EFS) in response to sharply rising bunker fuel costs resulting from the latest geopolitical disruption in the Middle East.
Despite the sudden nature of the announcements, these surcharges will still need to comply with tariff and publishing requirements established by the U.S. Federal Maritime Commission (FMC).
Shippers should not assume the new surcharges are automatically enforceable under their existing contracts and should carefully review their current transportation agreements to determine whether they are immediately enforceable and that proper protections are in place.
For details on what specific issues need to be addressed, we urge you to read the full legal update.