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
Patrizia Cosulich becomes first bunker tanker in Singapore to undertake its Mass Flow Meter extension test using the Master Mass Flow Meter, learns bunkering publication Manifold Times.
Bunker claims totalling SGD 628,000 for 88 deliveries of marine gas oil between the period of 7 February 2020 until 15 April 2020, according to documents obtained by Manifold Times.
Event welcomed over 1,100 attendees from 42 countries; delegates visited virtual booths about 4,800 times; while around 5,800 connections were made, according to data from organiser Informa.
Bunker suppliers and bunker craft operators may choose to carry out meter verification using either existing MIMO method OR with the use of a Master Meter.
Pai Kheng Pheng of Sentek Marine & Trading Pte Ltd on Thursday (8 October) was ordered remanded for a further week for investigations, AGC spokesperson informs Manifold Times.
INTERTANKO, BIMCO, SSA, IBIA Asia share what the technology brings to the waterfront, while operator Metcore International and manufacturer Endress+Hauser explain its benefits to the bunkering industry.