Emergency Bunker Surcharge (EBS): What You Need to Know
Subscribe
Sign-up to our newsletter, get access to exclusive tips about freight forwarding weekly update!
An Emergency Bunker Surcharge (EBS) is a fee imposed by carriers in response to fuel price increases.
Carriers implement EBS to recover their bunker fuel costs.
The increase in fuel prices is attributed to a 19% rise since April 2018, primarily driven by the price of oil.
The price of oil, affecting fuel prices and EBS, is determined by Brent Crude Oil.
The uptick in oil prices began in early 2017 when OPEC reduced its oil supply.
Carriers did not anticipate the sudden surge in oil prices in early 2018.
The duration of an EBS varies and is decided by each carrier.
Oil prices are expected to continue rising in 2018 due to ongoing oil cuts and U.S. sanctions against Iran.
Yes, EBS charges vary depending on the carrier and the specific trade lane.
More from Beeontrade