CMA CGM will impose a 'fuel surcharge for emergency situations' following the re-escalation of terrorism in the Strait of Hormuz, the French shipping company announced in an announcement posted on its website.

Fuel prices have risen sharply again following the recent?escalation in hostilities along the Strait of Hormuz. This reverses the?easing seen in the last few weeks. The bunker prices have risen across all trades and regions, impacting on the cost of ocean transport, the firm said.

The surcharge will remain in effect?until further notification. The notice was dated Tuesday, but it?was sent to reporters in an email on Wednesday.

(source: Reuters)