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Thu 20 Aug 2015, 09:50 GMT

Hapag-Lloyd amends fuel surcharge update cycle


Container carrier says the change will come into effect from October 1.

Europe's fourth-largest container shipping line, Hapag-Lloyd AG, has announced that from October 1, 2015, it will change the bunker charge (BUC) and low-sulphur fuel charge (LSF) update cycle from monthly to quarterly for all applicable trades.

"Based on latest bunker price development we feel comfortable that this change will provide advantages for all stakeholders. We reserve the right to change the update cycle again in case of future strong bunker price fluctuations," the company said in a statement.

Last week, the company revised its bunker adjustment factor (BAF) applicable for all containerised shipments from North East Asia (which comprises Japan, Korea, China, Hong Kong and Taiwan) to Australia to USD 275 per twenty-foot equivalent unit (TEU). The change is due to come into effect from September 12, 2015.

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