CMA CGM to impose emergency fuel surcharge from Aug. 1 as Hormuz tensions escalate

French shipping group CMA CGM said it will introduce an emergency fuel surcharge starting Aug. 1 after what it described as a renewed escalation of hostile actions in the Strait of Hormuz. In a notice posted on its official website on July 22, the company said fuel prices had risen sharply again over the past few days, reversing the easing trend seen in recent weeks. CMA CGM said the jump in fuel prices had significantly increased fuel costs across all regions and shipping routes, raising overall ocean freight costs. The surcharge will range from $65 to $165 per container and will remain in effect until further notice. The update was cited by BlockBeats, with Jin10 named as the source in the brief.