Covid-19: Shipping company suspends low sulphur surcharge on Nigerian importers

Abiola Seun

French shipping company, CMA/CGM has suspended low sulphur surcharge on Nigeria-bound cargoes around the world.

The company however, said that as from 1st of June 2020, it will suspend surcharge slammed on importers on low sulphur surcharge.

The low sulphur surcharge is the general name for the extra cost which carriers charge as a result of the higher cost of IMO 2020 compliant fuel.

The company in a statement made available to newsmen said, “CMA CGM has introduced a Low Sulphur Surcharge (LSS20) effective December 1, 2019 to cover the increase in fuel-related costs associated with the implementation of the IMO 2020 regulation.

“As from June 1, 2020, taking into consideration the current price of Very Low Sulphur Fuel Oil (VLSFO), CMA CGM informs its customers that this Low Sulphur Surcharge is not applicable and may come back later as per our formula.”

“Please contact your local CMA CGM office should you require information about any other pricing information,” the statement read.