Worldscale Releases 2015 Bunker Rates, Fixed Differentials for ECA Areas

by Ship & Bunker News Team
Friday October 10, 2014

The Worldscale Association (Worldscale), Wednesday announced by circular the bunker prices and fixed differentials to be used as of January 1, 2015, for miles steamed within Emissions Control Areas (ECAs), Platts reports.

Bunkers will be calculated at $920.75 per tonne for both European and North American ECAs.

However, Baltic and North Sea ECA miles will attract a $48.35 per mile uplift compared with $65.31 per mile within the North America ECA.

The differentials reflect the increased cost of bunkers as a result of compliance with new rules which will reduce the allowable sulfur content of marine fuel used in ECAs to 0.10 percent.

Worldscale said the use of fixed differentials allows more flexibility in keeping nominal rates up to date.

"It is the opinion of the joint Management Committees that differentials should continue to be used for this significant item to ensure flexibility where market premiums could differ considerably in 2015 from those given above," said Worldscale.

"In this case it would be possible to update differential values by circular," it continued.

Worldscale is expected to issue a further notice outlining all significant changes between 2014 and 2015 rates in November, and to release the new rate schedule to members in mid-December.

EA Gibson Shipbrokers recently said it expected little change in overall nominal rates for 2015 given stable bunker prices.

Ship & Bunker News Team
To contact the editor responsible for this story email us at editor@shipandbunker.com