Maersk Tankers' Bunker Adjustment Methodology Gets LR Approval

Wednesday March 13, 2019

The methodology Maersk Tankers uses to distribute bunker adjustment payments to pool partners has received the nod of approval from Lloyd's Register.

"We use the Bunker Adjustment methodology, as we believe it is the fairest and most accurate way of distributing payments related to bunker consumption to our partners. The third-party verification by Lloyd's Register speaks to that," says Ulrich Schittek, Head of Management Services, After Sales, at Maersk Tankers.

The methodology was launched in August 2015 and uses vessel performance data from Vessel Performance Solutions (VPS) as the formula's foundation, which is normalised to remove the impact of speed, draft, cargo handling, and weather from a vessel's performance.

The goal is to reward the pool partners for good operational performance and investments in the fuel efficiency of their vessels, such as the applications of anti-fouling hull paint or training their crews to operate the vessel in a fuel-efficient way.

"We support pool partners on initiating the right actions to improve fuel performance and consequently, the pool partners' earnings," said Per Navndrup Pedersen, Head of Bunker at Maersk Tankers.