Ocean Freight Rates Poised to Surge Again as Bunker Costs Climb

According to a recent report by Sea-Intelligence, rising bunker fuel prices are triggering fresh rate increases in ocean freight, with adjustments that could drive shipping costs back up to the highs seen during the COVID-19 disruption. Major carriers, including Maersk, have already updated their Bunker Adjustment Factor (BAF) surcharges, using indexes like Platts’ VLSFO (0.5% sulphur) as benchmarks. These surcharges are expected to take effect in Q4.

The impact is likely to be broad: importers of goods across many industries will face increased costs as fuel surcharges are passed along. While shipping time doesn’t change, the extra cost burden could ripple through supply chains, especially for smaller shippers with tighter margins. Given these developments, many in the logistics sector are bracing for what amounts to another wave of rate pressure in global ocean transport.