World News
IMO2020: Maersk Tankers Tweaks Pool BAF Payouts for Scrubber Equipped Tonnage
Maersk Tankers had adjusted the way it will distribute bunker adjustment payments to its pool partners to take into account the different operating costs of scrubber equipped tonnage compared to those using IMO2020 compliant fuel.
Maersk Tankers uses a proprietary methodology Bunker Adjustment to distribute payments to pool partners based on the bunker consumption of their vessels compared to the pool average.
The firm says the change, unanimously agreed by its pool partners, means vessels are compensated appropriately for their relative fuel efficiency and costs.
The mechanism will now be based on invoiced bunker fuel prices and quantities and the actual relative consumption of the vessels.
This will achieve a distribution which reflects the fuel economics available from the market, it says.
"It was important for us to find a fair distribution system which reflects the market value of scrubbers and fuel cost savings while maintaining all types of vessels trading in the same pool," said Ulrich Schittek, Head of Partner Relations at Maersk Tankers.
It is expected that around 20 vessels across Maersk Tankers' pools will be fitted with scrubbers by the January 1, 2020 start date of the new 0.50% sulfur cap.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 645.00 | 2.00 | 767.50 | 11.50 |
| Rotterdam | 600.00 | 8.00 | 751.50 | 13.00 |
| Houston | 627.50 | 9.00 | 796.00 | 11.50 |
| Fujairah | 649.50 | 0.00 | 889.00 | 0.50 |
| Global 20 Ports Average | 665.00 | 0.50 | 864.00 | 6.50 |
| Global 4 Ports Average | 630.50 | 5.00 | 801.00 | 9.00 |
| Global Average Bunker Price | 722.50 | 2.50 | 922.50 | 3.00 |
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