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LR recognises Maersk Tankers bunker adjustment methodology

14 Mar 2019

Classification society Lloyd’s Register (LR) on Tuesday (12 February) said it has recognised the Bunker Adjustment methodology used by Maersk Tankers.

The Bunker Consumption methodology calculates how much fuel each pool vessel consumes in relation to the pool average and allows Maersk Tankers (as pool manager) to distribute payments to pool partners accordingly.

Independent subject matter experts from Lloyd's Register have conducted an audit of the Bunker Adjustment calculation engine and have assessed its conformity with established methodologies and published international standards, such as ISO 15016:2015 and ISO 19030:2016.

“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.

Inherently, Bunker Adjustment encourages bunker performance and through that, benefits the pool as a whole. The data that goes into the methodology is further utilised to evaluate each vessel's saving potential, says Maersk.

“We support pool partners on initiating the right actions to improve fuel performance and consequently, the pool partners' earnings,” explains Per Navndrup Pedersen, Head of Bunker at Maersk Tankers. Through this, efficiencies are achieved across all pools.

Maersk Tankers’ bunker adjustment methodology was launched in August 2015 and is built on metrics and algorithms and naval architectural methodologies.

The backbone of Bunker Adjustment is calculated by the external performance provider Vessel Performance Solutions (VPS).

“The fact that we combine naval architectural practices with the pool distribution allows us to compare the vessels' performance by equal standards and is unique in the industry,” adds Pedersen.

Photo credit: Lloyd’s Register
Published: 14 March, 2019


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