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Maritime Market News

ONE joins the many with bunker surcharge

Ngày đăng: 13/06/2018 | Lượt xem: 393

OCEAN Network Express has become the latest container carrier to resort to emergency bunker surcharges in an effort to recoup the cost of rising fuel prices.The Singapore-based line, launched in April from the container operations of NYK, K Line and MOL, warned customers in an advisory that it had encountered “progressive and significant inflation” in fuel costs over recent months.

Bunker fuel prices had increased by more than 25% during 2018 and could escalate still further, ONE said. “This sustained surge in fuel costs has greatly impacted our cost base. The escalating cost situation has now reached the point at which ONE are forced to respond by adjusting our approach to bunker related pricing components.”

In order to adjust to the increased costs, ONE will implement a bunker cost recovery surcharge on a widespread basis.

The amount charged would vary by trade lane and would not apply to export cargo from China, ONE said. Rates would vary from $20-$60 per teu for dry containers and $20-$110 for reefers. They would be rolled out between July 1-15.

“The BRS quantum will be derived via a logical and equitable calculation mechanism,” it said.

The charge will not be applied to customers with agreed floating bunker adjustment factor mechanisms in place as a part of their contract construction.

ONE added that it would continue to explore all avenues to mitigate fuel consumption and costs for the benefit of the environment and supply chain costs of its customers.

  
Source: Lloyd’s List  
 

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MARKET INDICATORS
  18- Nov 11- Nov CHG
HRDI 1,210 1,368 158
BDI 1,228 1,390 162
BPI - - - - - - - - -
BTI Clean 1,389 1,285 104

 

EXCHANGE RATES
  18- Nov 11- Nov CHG
$-VND 24,858 24,860 02
$-EURO 0.964 0.966 0.02
$-YUAN - - - - - - - - -
$-YEN - - - - - - - - -

 

BUNKER PRICES
  18- Nov 11- Nov CHG
RTM 380cst 416 423 7
 LSFO 0.50% 586 635 49
MGO 936 976 40

SGP

380cst 426 433 7
 LSFO 0.50% 668 706 38
MGO 1058 1063 5