BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry



« News Home
:: Monthly Archive

News Topics
:: Air Pollution
:: Agreements & M&A's
:: Alternative Fuels
:: BunkerBlog
:: Cargoes & Storage
:: Company News
:: Efficiency, Costs & Charges
:: Environment
:: Events
:: Financial
:: Fuel Quality & Testing
:: Lubes & Additives
:: Oil Spills
:: People
:: Port News
:: Projects
:: Regulation, Legal
:: Services, Products,Technology
:: Statistics & Research
:: Vessels

Regional Archive
:: Americas
:: Asia/Oceania
:: Europe
:: M.East/Africa


BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
Home » News



TSA announces record bunker surcharge

New floating bunker surcharge to come into effect from September 1st.





Updated on 27 Aug 2008 10:02 GMT

Member lines of the Transpacific Stabilization Agreement(TSA) have confirmed that their floating bunker fuel surcharge will be raised to new record levels from September 1st.

TSA lines said the surcharge, which is adjusted on a monthly basis to reflect world fuel price fluctuations, has been increased to reflect record bunker prices that hit $767 per tonne in July, up from $500 per tonne at the start of the year and $296 per tonne at the beginning of 2007.

The surcharge increase comes at a time when marine fuel prices have dropped from peak levels recorded last month. The price of 380-cst in Singapore is currently over $80 lower than the record price of $760 per tonne reached on July 15th.

N.Y.K. Line Vice President and TSA revenue policy committee member Bill Payne emphasized that each month’s surcharge reflects average bunker fuel prices during a reporting period 30-60 days earlier, noting that this is done to comply with U.S. law requiring a minimum 30 days’ notice to the market in the event of a rate or surcharge increase.

“Carriers pay the higher fuel costs out of pocket as those costs rise, cushioning the impact on shippers, and then must pass them through after the fact,” Payne said in a statement. “The good news with a floating formula is that, as prices fall, customers will start to see savings 30 to 60 days out.”

Commenting on the current floating surcharge, APL Senior Vice President and RPC committee member, Bob Sappio said "The trans-Pacific trade is simply not sustainable as it is presently constituted; carriers must recover a greater percentage of actual dollars spent on fuel."

Members lines of the Transpacific Stabilization Agreement include APL, Ltd., China Shipping Container lines, CMA-CGM, COSCO Container Lines, Ltd., Evergreen Line, Hanjin Shipping Co., Ltd., Hapag Lloyd AG, Hyundai Merchant Marine Co., Ltd., Kawasaki Ksen Kaisha, Ltd. (K Line), Mediterranean Shipping Co., Mitsui, O.S.K. Lines, Ltd., Nippon Yusen Kaisha (N.Y.K. Line), Orient Overseas Container Line, Inc., Yangming Marine Transport Corp. and Zim Integrated Shippnig Services.






Related Links:

Hyundai launches new BAF finder
OOCL raises BAF by 13.5 percent
Horizon in fuel surcharge u-turn
United States

Latest News:

CMA CGM's takeover of Containerships sees LNG advocates join forces
Hydrogen-powered ferry project secures EU funding
Oil and fuel oil hedging market update
Nauticor's LNG bunker vessel enters final phase before delivery
Bunker checklist for vessel owners published
BC Ferries posts rise in bunker consumption in fiscal 2018
Mixed OPEC news and meeting keep oil price volatility high
Oil and fuel oil hedging market update
World Fuel Services seeks Operations and Trade Support Assistant
Trade dispute escalation, OPEC meeting jitters cause volatility
How to prevent bunker spills: North P&I
Bunker Holding wins award at HR event




Page Links:

Prices
Africa
Asia
Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Commentaries
Futures
Prices
Antwerp
Busan
Cape Town
Fujairah
Houston
Istanbul
Kaohsiung
Las Palmas
Maracaibo
New Orleans
Piraeus
Rio de Janeiro
Rotterdam
Santos
Singapore
News
Latest News
Blogs
Archive
Americas
Asia
Europe
Middle East
News
Air Pollution
Agreements & M&A's
Alternative Fuels
Cargoes & Storage
Efficiency, Costs & Charges
Environment
Events
Financial
Fuel Quality
Lubes & Additives
Oil Spills
People
Port News
Projects
Regulation/Legal
Services, Products, Technology
Statistics & Research
Vessels
Contact & Terms
Contact Us
Advertise
Terms & Conditions
Privacy Policy
Events
Upcoming Events