VesselBot Analysis Reveals Up to USD 475 per TEU Overpayment on Bunker Surcharges in Q2 2026 - News and Statistics

Jul 4, 2026

A fresh report from maritime analytics provider VesselBot reveals that cargo owners on the Far East Asia to West Coast North America route likely overpaid for fuel-linked surcharges in April and May 2026. The discrepancy between what carriers listed and VesselBot’s independent benchmark hit as much as USD 475 per TEU.

VesselBot reviewed the combined Bunker Adjustment Factor (BAF) and Emergency Fuel Surcharge (EFS) that Maersk and CMA CGM posted for those two months. In April 2026, Maersk’s combined fee was USD 605 per TEU, while CMA CGM’s stood at USD 710 per TEU. VesselBot’s own Fuel Surcharge Reference Cost for that trade lane came in at USD 295 per TEU. Come May 2026, the carriers kept their charges steady at USD 605 and USD 710 per TEU respectively, but VesselBot’s reference figure dropped to USD 235 per TEU.

The potential savings per TEU amounted to USD 310 for Maersk and USD 415 for CMA CGM in April, then expanded to USD 370 and USD 475 in May.

Bunker prices climbed 63.1% from January to April 2026, moving from USD 585 per metric tonne to USD 954 per metric tonne, then fell 7.9% to USD 879 per metric tonne in May. Over the January-to-May span, bunker prices rose 50.3%.

Yet VesselBot’s analysis indicates that shifts in bunker prices alone do not capture the true fuel expense per TEU for a given service. Although bunker prices decreased 7.9% between April and May, VesselBot’s Trade Lane Reference Cost slid 20.3%, from USD 295 per TEU to USD 235 per TEU, suggesting that vessels operated more efficiently during that timeframe, which further lowered the actual fuel cost per TEU.

The study outlines two typical shipper situations. In the first, a contract ties BAF adjustments to bunker price changes. Taking Maersk’s base BAF of USD 405 per TEU as an example, the 63.1% bunker price increase from January to April would raise the surcharge to USD 661 per TEU, and the subsequent 7.9% drop in May would reduce it to USD 609 per TEU. Compared to VesselBot’s reference cost, the total savings opportunity for 1,000 TEU over both months would hit USD 740,000.

In the second scenario, where a shipper merely accepts the carrier-published BAF and EFS rates as they stand, the cost gap grows larger. For 1,000 TEU moved on the Far East to West Coast North America lane, the avoidable expense across April and May falls between USD 680,000 and USD 890,000, depending on the carrier.

VesselBot’s Fuel Surcharge Benchmarking Indices factor in bunker prices at over 500 ports worldwide, along with vessel operational profile, fuel consumption, sailing distance, service execution, routing, and utilisation. The firm contends that this yields a more precise and defensible benchmark than either bunker index clauses or carrier-published rates on their own.

The report concludes that independent fuel cost benchmarking equips procurement teams to contest excessive charges, measure avoidable costs, and craft more transparent surcharge clauses in future carrier agreements.

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