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Drewry creates low sulphur cost-impact calculator ahead of IMO rule

DREWRY has started offering a bunker adjustment factor (BAF) formula and fuel cost benchmarking service in the run-up to the implementation of the International Maritime Organization's (IMO) new low sulphur fuel rule in 2020

Drewry creates low sulphur cost-impact calculator ahead of IMO rule

DREWRY has started offering a bunker adjustment factor (BAF) formula and fuel cost benchmarking service in the run-up to the implementation of the International Maritime Organization's (IMO) new low sulphur fuel rule in 2020

Drewry creates low sulphur cost-impact calculator ahead of IMO rule
23 October 2018 - 19:00

DREWRY has started offering a bunker adjustment factor (BAF) formula and fuel cost benchmarking service in the run-up to the implementation of the International Maritime Organization's (IMO) new low sulphur fuel rule in 2020.

The global shipping consultant said it developed for beneficial cargo owners (BCOs) an IMO low sulphur rule cost-impact calculator based on robust market data, benchmarked BAF charges and fuel cost differentials between loops and carriers, reported American Shipper.



'With the compliance window to the IMO's low sulphur rule change in January 2020 rapidly closing, our analysis of the topic has highlighted widespread unease and uncertainty among shippers,' said Drewry supply chain advisors head Philip Damas.



The consultant said its poll of global shippers and freight forwarders revealed that three-quarters of respondents had yet to receive information from their carriers on how they planned to recover the fuel cost increases widely anticipated to accompany the regulatory change. More than half did not consider their service providers' existing approaches as either fair or transparent.



'These research findings are amplified by the complexity of the issues in play, the cost recovery models, the lack of cost transparency, etc.,' Mr Damas said. 'Thorough preparation, information-sharing and changes to fuel charge contractual terms are now required.'



Based on independent 'futures' prices, low sulphur marine fuel prices per tonne reportedly will be 55 per cent higher than current high sulphur fuels, and Drewry considers that the probable worst-case scenario is that fuel costs paid by carriers and fuel surcharges paid by shippers in global container shipping will increase by 55 per cent to 60 per cent in January 2020.

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