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In December 2019, Maersk introduced an Environmental Fuel Fee (EFF) to cover the increase and volatility in fuel-related costs associated with the implementation of the IMO 2020 regulation. The EFF level is reviewed every month to reflect latest Low Sulphur Fuel development so that significant cost increase or decrease are shared between Maersk and customers symmetrically in the initial phase of IMO2020.
The recent drop in fuel price means that Maersk EFF level will be set at ZERO as of May 1st, 2020. This level will be kept until further notice triggered by increase of fuel price. We expect fuel price will continue to be subject to high volatility.
The EFF is applicable to Maersk Spot and all contracts with validity up to three months.
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