Fri 25 May 2018, 13:55 GMT

Maersk Line introduces Emergency Bunker Surcharge


Shipper unable to recover bunker costs through standard bunker adjustment factors due to price jump.


Image credit: Flickr
Maersk Line has confirmed that it will be introducing an Emergency Bunker Surcharge (EBS) next month following the recent jump in the price of marine fuel.

In a statement, Maersk Line said: "The increase in bunker price in 2018 has been significantly higher than what had been expected and has now reached a level of 440 USD/ton in Europe, the highest since 2014.

"The increase is more than 20% compared to the beginning of the year and this unexpected development means it is no longer possible for us to recover bunker costs through the standard bunker adjustment factors."

Maersk Line's EBS tariff is based on an IFO 380 price of $440 in Rotterdam. According to Bunker Index price data for May 25, IFO 380 in Rotterdam was being sold at $430-434 per tonne - down from the previous day's $438-$440.

The boxship operator's EBS tariff is subject to change based on the following trigger events:

- Should IFO 380 in Rotterdam increase to $530, EBS tariffs will be multiplied by a factor of 2.0.

- Should IFO 380 in Rotterdam decrease to $370, EBS tariffs will be zero.

The EBS will be applicable to all cargo on all trades - except for export shipments from mainland China. The EBS will apply in Hong Kong and Taiwan.

The surcharge is due to become effective from June 1, 2018, for non-regulated corridors and July 1, 2018, for regulated corridors.

As Bunker Index previously reported, Maersk's Ocean segment consumed 3.1 million tonnes of marine fuel in the first quarter of 2018 (representing a year-on-year rise of 28.0 percent), spending just under $1.2 billion.

The average price spent on bunkers by Ocean in Q1 was $382 per tonne - a rise of $62, or 19.3 percent, on the previous year, and a quarter-on-quarter increase of $42, or 12.4 percent.

Maersk Ocean includes the ocean activities of Maersk's Liner Business (Maersk Line, MCC, Seago Line and Sealand) together with Hamburg Sud brands Hamburg Sud and Alianca as well as strategic transshipment hubs under the APM Terminals brand.


ClearMariner homepage. ClearMariner expands maritime sanctions screening with ESG, emissions and API support  

Online service now combines sanctions checks with voyage CO₂, CII, EU ETS and FuelEU Maritime estimates.

Long Jing Xin, Flex Commodities. Flex Commodities adds Long Jing Xin to Singapore marine fuels team  

Company appoints associate for marine fuels as part of plan for regional expansion.

CMA CGM logo. CMA CGM recruiting risk manager to oversee oil, gas and CO₂ exposure in energy and bunkering unit  

Container line seeks senior hire for hedging, stress testing and fuel purchasing performance oversight.

Mineral Europa vessel. CMB.Tech's Mineral Europa starts maiden voyage as first ammonia-powered dry bulk vessel  

Ship is bound for Australia, with 21 ammonia-powered vessels due to join its fleet by 2029.

Launching ceremony of vessel with builder's hull no. 0330006. New Times Shipbuilding launches 299,500-DWT LNG dual-fuel crude oil tanker  

Sixth vessel in series launched in Jiangsu province, China.

Closing ceremony of vessel with builder's hull no. 0208123. LNG dual-fuel boxship handed over to Eastern Pacific Shipping  

Closing ceremony held for 8,400-TEU vessel in Jiangsu province.

Keel-laying ceremony of vessel with builder's hull no. CHB2085. Changhong International lays keel of third 3,100-TEU boxship for Costamare Shipping  

Feeder vessel to feature scrubber system, supporting the use of high-sulphur fuel oil.

Launching ceremony of vessel with builder's hull no. CHB3015. Changhong International launches fifth 115,000-tonne product tanker for Navios  

Vessel is designed for future methanol or LNG use and includes provision for medium-voltage shore power.

ABS and DOE sign MoU. ABS and US Department of Energy sign MoU on maritime nuclear applications  

Agreement covers floating nuclear power, nuclear-powered vessels and the port and shipyard infrastructure needed to support them.

NMSSC visits Golden Centaurus. Singapore safety council inspects methanol bunker tanker Golden Centaurus  

NMSSC members 'encouraged' by integration of structural and operational safety into newly commissioned IMO Type II vessel.