Tag: Fuel Prices

ONE revises bunker surcharge
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ONE revises bunker surcharge

Ocean Network Express (ONE) has decided to implement a revised bunker surcharge with effect from January 1, 2019. The new OBS (ONE Bunker Surcharge) will apply on all new contracts which commence on January 1, 2019 and to be valid till further notice. Existing contracts will still be subject to the previous bunker adjustment factor...

CMA CGM removes emergency bunker surcharge
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CMA CGM removes emergency bunker surcharge

CMA CGM Group has announced that its emergency bunker surcharge (EBS) will be non-applicable from January 1, 2019, until further notice. The EBS was implemented in June 2018 due to rising oil prices. Based on the Brent average price today, CMA CGM has decided to remove its bunker surcharge. Other bunker-related surcharges, THC (Origin and...

Scrubber fitted vessels to benefit from premium charter rates, says MSI
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Scrubber fitted vessels to benefit from premium charter rates, says MSI

Dry-bulk vessels fitted with scrubbers could benefit from premium charter rates and higher asset values if adopting the technology early, compared with those burning expensive low-sulphur fuel (LSF). This is according to UK based consultancy Maritime Strategies International (MSI) and analyst Will Fray. The consultancy believes that there will be a technology-led two-tier market for...

Drewry prepares for 2020 with Cost Impact Calculator
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Drewry prepares for 2020 with Cost Impact Calculator

Shipping consultancy Drewry has developed an IMO low-sulphur rule Cost Impact Calculator to improve transparency on fuel costs in 2020 and help shippers limit additional costs. The calculator is based on robust market data, benchmarked BAF charges and fuel cost differentials between loops and carriers. It has been developed in cooperation with both shipper members...

OOCL introduces bunker surcharge to cover 2020 costs
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OOCL introduces bunker surcharge to cover 2020 costs

OOCL will begin transitioning to the IMO’s 2020 0.5 per cent global sulphur cap by using low sulphur fuel (LSF) but estimates this will cost the company well above half a billion dollars. The company will therefore be introducing a bunker recovery approach. The company says that the expected bunker consumption of its fleet and...

OPEC predicts 30 per cent non-compliance in 2020
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OPEC predicts 30 per cent non-compliance in 2020

Analysts of the World Oil Outlook report by the Organisation of Petroleum of Exporting Countries (OPEC) have predicted that only 70 per cent of ships will be compliant in 2020. While some have announced plans to use scrubbers or low sulphur fuel oil (LFSO), there are many that have not yet committed to a method...

European Shippers’ Council criticises sulphur surcharges
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European Shippers’ Council criticises sulphur surcharges

The European Shippers’ Council (ESC) has voiced its concerns over the sulphur surcharges that have been implemented by some shipping companies to cover the cost of rising fuel prices. ESC states that it disapproves of the mechanism of surcharges and says that shippers should call for a dialogue with container liners to find the best...

Scrubber installations will not meet HFO excess, claims energy consultant
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Scrubber installations will not meet HFO excess, claims energy consultant

The availability and installation capacity of marine scrubbers will be insufficient to meet the projected surplus of heavy sulphur fuel oil (HFO) in 2020 as the IMO’s 0.5 per cent sulphur cap enters into force. According to energy and commodity price consultancy, Argus Media, scrubber orders and installations have rapidly increased over the last six...

CMA CGM extends emergency bunker surcharge
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CMA CGM extends emergency bunker surcharge

CMA CGM Group has announced an extension of its Emergency Bunker Recovery Measures as from August 1, 2018. The measure has been maintained due to high oil prices to maintain the measure to recover this increase. The emergency bunker surcharge aims to protect carriers from unexpected increases in fuel cost. From August 1, until further...

OPEC producers to lead oil supply to 2040
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OPEC producers to lead oil supply to 2040

The Organization of the Petroleum Exporting Countries (OPEC) will be the key oil supplier through to 2040, although output from non-OPEC producers will ensure adequate supply to 2030. This is according to global natural resources consultancy, Wood Mackenzie. In its Macro Oils Long-Term Outlook H1 2018, Wood Mackenzie states that it expects the US Lower...