Ocean carrier to lower bunker surcharges

Leading ocean carrier Maersk Line has announced that it plans to decrease its bunker surcharges for trades between the U.S., Canada and the west coast of South America.

The surcharges, which are due to come into effect on November 1st, will be $310 per TEU and $620 per FEU, down from previous levels of $385 and $770, the shipping firm said in a notice to members of the shipping industry.

Maersk Line said that it also plans to reduce its surcharge on cargo shipped between the U.S., Canada, Central America and the Caribbean from November 1st. The revised fees will be $200 per TEU and $400 per FEU, down from previous levels of $400 and $800.

Last month Maersk said announced that it was implementing a new Bunker Adjustment Factor (BAF) for its Far East to Europe, Intra European, and Europe to Middle East and South Asia trades as of 1st October 2008.

Commenting on the new bunker formula, the company said "Our aim is to provide a simple, fair and transparent BAF for our customers - allowing us to share the risks and opportunities from the fluctuating bunker prices".

Maersk's BAF Calculator can be found at http://baf.maerskline.com or www.maerskline.com/baf. This online tool uses a formula developed by Maersk Line to calculate the BAF for any given trade. The user simply selects the load and discharge country and the container type. The BAF Calculator then works out the bunker charge in USD per unit for each container type.

The website also includes an online simulator so users can see how the BAF will fluctuate according to changes in the bunker price.

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