Importers have received notice of another increase in shipping costs as a result of rising fuel prices, driven by conflict in the Middle East.

Bermuda International Shipping, which operates the Bermuda Islander cargo ship, announced an inland fuel surcharge of $80 per Twenty-Foot Equivalent Unit, referring to the standard 20ft containers typically used to bring goods into Bermuda.

The notice comes less than month after BISL, Somers Isles Shipping and Bermuda Container Line all applied a $150 per TEU fuel surcharge in response to a 75 per cent increase in the cost of maritime fuel.

The new charge applies to BISL’s next two voyages, on April 20 and 27, and the $80 fee is for “inland points 100 miles or less”. For inland points beyond 100 miles, the surcharge will amount to 7.5 per cent of the freight charge, BISL stated.

Inland fuel surcharges apply to trucking or rail freight costs to the port in the US and are temporary fees to offset volatile diesel prices.

BISL stated: “The Inland Fuel Surcharge is based on fuel prices published by the US Energy Information Administration, and is subject to adjustment every two weeks.”

The price of oil has fallen since a two-week ceasefire was agreed in the conflict involving the United States, Israel and Iran, but both the US and European benchmarks remained above $90 a barrel yesterday.

The Strait of Hormuz, a critical waterway for oil and gas that's been effectively shuttered since the start of the war almost seven weeks ago, remained closed yesterday.

The US has set up a naval blockade to cut off Iranian shipments, while Iran is keeping the strait closed to most other traffic. The stand-off has exacerbated an energy supply crisis that is building inflationary pressure around the world.