CMA CGM has announced that, given the current price of very low sulphur fuel oil (VSLFO), it will not be applying its low sulphur charge in June.
The shipowner introduced its ‘LSS20’ surcharge on 1 December in order to ‘cover the increase in fuel-related costs associated with the implementation of the IMO 2020 regulation’.
However, the Coronavirus pandemic has led to a significant drop in global oil prices.
As previously reported by Bunkerspot, the shipowners also decided not to apply the LSS20 surcharge in May because of the coronavirus-led drop in oil prices.
In a notice posted on its website on Monday (4 May), CMA CGM added that the surcharge ‘may come back later’ if there is a change in bunker prices.