Ocean Network Express (ONE), an integration between 'K' Line, MOL and NYK, has introduced a bunker surcharge due to a progressive and significant inflation of fuel costs over recent months, it says.
“Bunker fuel prices have increased by more than 25% during 2018 and could escalate still further,” states ONE which adds the surcharges are effective at various dates from July onwards.
“This sustained surge in fuel costs has greatly impacted our cost base.
“The escalating cost situation has now reached the point at which ONE are forced to respond by adjusting our approach to bunker related pricing components.”
ONE is the latest firm to join other shipping companies such as Maersk, CMA CGM and MSC which have respectively introduced emergency bunker surcharges (EBS) due to an increase in bunker prices in 2018.
The Global Shippers’ Forum (GSF) in early June says it unwelcomes the shipping industry’s introduction of “emergency” bunker surcharges in response to rising fuel costs.
Photo credit: Ocean Network Express
Published: 8 June, 2018
‘We are happy to sit down with interested parties to discuss this opportunity, and share more details of our business regarding STS transhipment and storage with potential clients upon request,’ states Managing Director.
Top three positive movers in 2021 were Hong Lam Fuels Pte Ltd (+14); Sirius Marine Pte Ltd (+12); and TFG Marine (+11); according to the latest data from the Maritime and Port Authority of Singapore.
Webinar will offer delegates insights on the prevention of operational issues when using VLSFOs, along with an update on biofuels and bunker fuel quality trends for 2021 and its forecast for the current year.
Heating VLSFOs to prevent cold flow issues causes issues related to distillate ageing, and there is a gentle balance to be maintained when handling the product.
Research into n-paraffin distribution of VLSFOs has shown that they not only differ from MGO, but significantly differ from each other as well, states bulletin.
Bunker Holding and Dan-Bunkering have decided not to appeal the city court ruling in the case where the companies were on trial for breaching EU sanctions against Syria, states USTC.