Decision to raise freight fuel surcharge 'not taken lightly'

Steam Packet responds after haulage business raises concerns

The Isle of Man Steam Packet says the decision to increase its fuel surcharge for freight customers was not taken lightly.

Managing Director Brian Thomson has told Manx Radio the company recognises that any increase in fuel surcharges is disappointing for customers and businesses, particularly at a time when many continue to face wider financial pressures.

Mr Thomson says the move is driven by continued volatility in global fuel prices.

The company says it's absorbed an additional £4.2 million net fuel cost during the year to date, and fully expects to incur further losses despite the increase in this quarter's surcharge as a result of the ongoing closure of the Strait of Hormuz.

The revised surcharge, reflecting an effective increase of between 5% and 18% to overall freight rates, has been agreed with the DoI and reflects the exceptional increases in the cost of marine gas oil - the fuel used by the company's fleet.

A Manx haulier previously told Manx Radio it will be 'impossible' for his company to absorb the latest fuel surcharge.

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