Shipping Rates More Expensive
The high price of bunker fuel is requiring carriers to update their tariffs, increasing the costs for exporting and importing, affecting international trade.
Wednesday, May 23, 2012
The cost of sending goods from, say, Costa Rica to the United States has risen significantly due to increased bunker fuel prices, the price of which was quoted at the beginning of the week at $600 a barrel. This rise has meant that sending a 40-foot container with a refrigerated load from Costa Rica to Miami increased by 24.1% from February 2010 to February 2012.
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Most shipping companies have agreed to pay carriers between $1.26 and $1.29 per kilometre as a re-adjustment.
Transport companies are pushing the government to lower the price of diesel, their main raw material whose price has increased by 7% in the last two months.
Even though the price of fuel has gone down in the last few month, the cost of internal shipping by container in Panama has gone up.
Container transporters in Panama's Atlantic ports are to raise their tariffs to offset higher fuel costs, Panama's Transport Coordinator announced.
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