The relationship between maritime fuel surcharges development and economic growth

Abstract

The topic of this article is to present an analysis of relationship between maritime surcharges (fuel surcharge) and development of the economy (represented by bunker prices development). Pricing in the maritime industry is turbulent. Ship-owners or ship operators and shippers are subject to fluctuations in prices. These fluctuations affect the financial opportunities of companies because they determine cash flows and have a significant affect planning. According to conducted researches, the freight charges depend mainly on fixed factors, while surcharges are time-sensitive. Therefore, the article is focused on the development of fuel surcharges in the last five years (from fourth quarter of 2015 to first quarter of 2019) and points to the need to clearly identify their development in relation to the development of the economy. Methodology of the article uses statistical methods related to the analysis of time series. Conclusions of the article can offer several measures for future researchers.