SINGAPORE: Several ferry operators that offer services between Singapore and Batam have imposed surcharges amid a rise in fuel prices due to the Middle East conflict.
Horizon Fast Ferry, Majestic Fast Ferry and Batam Fast announced that passengers departing from Singapore for Batam would face a S$6 (US$4.70) fuel surcharge from Thursday (Mar 12).
“This measure is necessary to offset rising operational costs while ensuring the continued delivery of safe, reliable and efficient services,” said Horizon Fast Ferry in a notice on its website.
It added that it was monitoring the fuel price situation and would adjust the surcharge accordingly.
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The surcharge will apply to all tickets, even those purchased before Thursday, and will be collected at the operators' respective ticket counters.
Batam Fast said it will also apply surcharges of S$12 for ferry rides to Desaru Coast and S$6 for Pengelih, Malaysia.
Energy costs have risen since the US-Israel conflict with Iran broke out last month.
The war has effectively shut a crucial shipping route, the Strait of Hormuz, where about a fifth of the world’s daily oil consumption passes through.
Iran's Revolutionary Guards have been attacking ships passing through the strait and said the world should be prepared for oil prices to rise to US$200 per barrel.
"Get ready for oil to be US$200 a barrel, because the oil price depends on regional security, which you have destabilised," Ebrahim Zolfaqari, spokesperson for Iran's military command, said in comments addressed to Washington.
While the International Energy Agency said on Wednesday that its members had agreed to unlock 400 million barrels of oil from their reserves, the move was unable to overcome fears about the choking of energy supplies from the Middle East.
Brent crude jumped 9.3 per cent to US$100.50 on Thursday, while West Texas Intermediate was up 8.8 per cent at US$94.92 at around 3.05am GMT (10.05am, Singapore time).
In Asia, liquefied natural gas (LNG) supplies have also been affected as nearly a third of the continent's LNG imports pass through the Strait of Hormuz.
Singapore's Minister-in-charge of Energy and Science & Technology Tan See Leng said on Thursday that the closure of the Strait of Hormuz will likely result in higher global fuel prices in the near term.
“With the global environment becoming less certain and stable, fuel disruptions and price fluctuations are more frequent,” he said in a Facebook post.
He highlighted several measures that Singapore has in place to safeguard its energy needs, including diversifying its sources of imported LNG.
“The government also stands ready to support households and businesses as necessary,” Dr Tan said.
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Horizon Fast Ferry, Majestic Fast Ferry and Batam Fast announced that passengers departing from Singapore for Batam would face a S$6 (US$4.70) fuel surcharge from Thursday (Mar 12).
“This measure is necessary to offset rising operational costs while ensuring the continued delivery of safe, reliable and efficient services,” said Horizon Fast Ferry in a notice on its website.
It added that it was monitoring the fuel price situation and would adjust the surcharge accordingly.
CNA Games
Show More Show Less
The surcharge will apply to all tickets, even those purchased before Thursday, and will be collected at the operators' respective ticket counters.
Batam Fast said it will also apply surcharges of S$12 for ferry rides to Desaru Coast and S$6 for Pengelih, Malaysia.
Energy costs have risen since the US-Israel conflict with Iran broke out last month.
The war has effectively shut a crucial shipping route, the Strait of Hormuz, where about a fifth of the world’s daily oil consumption passes through.
Iran's Revolutionary Guards have been attacking ships passing through the strait and said the world should be prepared for oil prices to rise to US$200 per barrel.
"Get ready for oil to be US$200 a barrel, because the oil price depends on regional security, which you have destabilised," Ebrahim Zolfaqari, spokesperson for Iran's military command, said in comments addressed to Washington.
Related:
While the International Energy Agency said on Wednesday that its members had agreed to unlock 400 million barrels of oil from their reserves, the move was unable to overcome fears about the choking of energy supplies from the Middle East.
Brent crude jumped 9.3 per cent to US$100.50 on Thursday, while West Texas Intermediate was up 8.8 per cent at US$94.92 at around 3.05am GMT (10.05am, Singapore time).
In Asia, liquefied natural gas (LNG) supplies have also been affected as nearly a third of the continent's LNG imports pass through the Strait of Hormuz.
Singapore's Minister-in-charge of Energy and Science & Technology Tan See Leng said on Thursday that the closure of the Strait of Hormuz will likely result in higher global fuel prices in the near term.
“With the global environment becoming less certain and stable, fuel disruptions and price fluctuations are more frequent,” he said in a Facebook post.
He highlighted several measures that Singapore has in place to safeguard its energy needs, including diversifying its sources of imported LNG.
“The government also stands ready to support households and businesses as necessary,” Dr Tan said.
Related:
Continue reading...