Oxea to begin North American fuel surcharges

09 July 2008 15:56  [Source: ICIS news]

HOUSTON (ICIS news)--Oxea will implement a surcharge for all North American truck and rail shipments effective on 1 August due to escalating fuel costs, the global chemicals supplier said on Wednesday.

The company will implement a fuel surcharge of $300 (€192) per shipment by truck and $600 per rail shipment. The fee would be removed when fuel prices fall to lower levels, Oxea said.

The surcharge was deemed necessary after fuel prices “reached extraordinarily high levels”, said Oxea board member Miguel Mantas. He added that the company had engaged in several rounds of negotiations with its transportation providers, but that current circumstances had forced Oxea to pass a portion of these costs through to customers.

Mantas stressed that the surcharge is not a price increase and “will be removed when fuel prices return to normal levels”.

($1 = €0.64)

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By: Heidi Finch
+44 20 8652 3214

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