American Natural Soda Ash Corp. (ANSAC), the international distribution arm for three US manufacturers of natural soda ash, on Monday (16 September) announced that, effective immediately, it will begin adding a vessel fuel surcharge to all of its soda ash vessel shipments in order to ensure compliance with IMO 2020.
“Even though the implementation of IMO 2020 is only four months away, the highly speculative premium on forward pricing for 0.5% low sulfur fuel versus today's 3.5%, as well as uncertainty as to the actions that shipowners will take both before and after January 1, have significantly limited the plausible fuel hedging options available in calendar year 2020,” stated ANSAC President Christopher B. Douville.
“Therefore, to ensure shipment reliability, ANSAC has no choice but to adopt this fuel surcharge program."
Under the terms of the program, ANSAC will add a vessel fuel surcharge to all transactions that include vessel freight if the monthly average price for 0.5% low sulfur fuel in Singapore, as reported by Platts Marine Fuel Bunker 0.5% (Ticker: MFSPD03), exceeds a certain U.S. dollar threshold per metric ton.
Details of the vessel fuel surcharge programme will be communicated separately to ANSAC's customers and distributors.
Photo credit: MarineTraffic / Frans Eykel
Published: 18 September, 2019
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