Worldscale Association Sets 2015 Bunker Prices
- Business & Finance
In anticipation of higher freight costs triggered by more stringent environmental regulations for Emmision Control Areas due in 2015, the Worldscale Association has announced new bunker prices and fixed rate differentials for 2015.
As of January 2015 all ships within ECA zones, the Baltic and North Seas and waters off North America, will have to implement the International Convention for the Prevention of Pollution from Ships (MARPOL) regulations which limit the sulfur content in fuel oil to 0.1%.
According to the Worldscale Association, low sulfur (0.1% sulfur) Baltic and North Sea ECA and European in-port bunker allowances will be USD 920.75/mt.
The allowances in North American and Caribbean ECA zones will be USD 920.75/mt.
The association is quoted by Platts as saying in a circular that the bunker prices that will be used for calculating other 2015 Worldscale flat rates will be USD 614.81/mt.
Also, fixed differentials will be used to calculate additional freight due in connection with voyages involving ECA areas.
“The differential in the Baltic and North Sea ECA zone will be USD 48.35 per mile of the voyage steamed within the zone.
In the North American and Caribbean ECA zones the fixed differential will be USD 65.31 per mile of the voyage steamed within the zone,” Platts cited the association as saying.
Source: Platts, October 10, 2014