ONE introduces new bunker surcharge
The revised IMO regulations will limit sulphur content in fuel oil to less than 0.5%, compared to the current limit of 3.5%. The new regulations & limits will come into effect from 1 st January 2020 however preparatory adjustments in advance of the implementation date are necessary. ONE has identified that adopting low-sulphur compliant hybrid oil (0.5% Sulphur content) is the most realistic and cost-efficient, short term solution, available in order to enable ONE to be compliant with the revised regulations by 1 st January 2020, the company said in a press release.
In order to prepare for the new regulations, ONE has decided to implement a revised mechanism with effect from 1st January 2019. The new OBS (ONE Bunker Surcharge) is more appropriate to the revised cost scenario. The new OBS will apply on all new contracts which commence on 1 st January 2019 and to be valid till further notice. Existing contracts will still be subject to the previous BAF mechanism and remain so until the contract expires.
Fuel price will be calculated based on past 3 months average bunker price in key bunkering ports.