Asia/Pacific News
AADA Bunker Surcharge Cut After Prices Plummet
Box carrier group Asia-Australia Discussion Agreement (AADA) has announced a reduction in its bunker surcharge following a month of plummeting bunker prices.
Premiums for twenty-foot equivalent unit (TEU) containers drop $50 to $625, and forty-foot equivalent unit (FEU) premiums fall $100 dollars to $1,250 for both dry and refrigerated containers.
The recommendation comes into effect as of July 7, 2012 and until further notice on a voluntary, non-binding basis.
The change comes from "the recent decrease in the price of oil at Hong Kong and South Korea," an AADA statement said.
According to Ship & Bunker data, global marine fuel prices in May dropped dramatically with Singapore IFO380 falling $91.50 from $718.00 to $626.50 (12.7%) through the month, with a peak of $719.50 per metric tonne on May 2nd.
AADA, whose currently 14 listed members include Nippon Yusen Kaisha (NYK Line), COSCO Container Lines, Ltd., Hapag-Lloyd A.G., and Maersk Line, is a voluntary discussion forum serving the trade from north and east Asia to destinations in Australia.
