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PUBLISHER: The Load Star (

Shippers are bracing for a raft of emergency bunker surcharges from ocean carriers, as oil prices hit eight-year highs.

Following Russia’s invasion of Ukraine, the price of crude oil has soared to its highest level since 2014, to more than $105 a barrel, with analysts predicting $130 within weeks.

Meanwhile, Rotterdam-sourced low-sulphur fuel oil (LSFO) spiked yesterday by more than $30, to $731.50 a ton, a 40% increase since December.

The Loadstar understands an emergency BAF was being considered by carriers before the events of this week, but according to a carrier source, the “die is now cast” on surcharge hikes.

“Many of our contracts have a BAF calculator built in, but for our spot and short-term deals, we have no option but to try to recover as much of the extra cost as possible,” he said.

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