Maersk Line, the world's number one provider of container shipping services, has rolled out its schedule for its 'floating BAF' (bunker adjustment factor) to be implemented in stages from April covering various services, including those to and from the Indian sub-continent.
From April 3, the BAF on the eastbound trade from North America (North America- West Asia/Indian sub-continent) will be $215 per TEU and $430 per FEU for both dry and refrigerated containers, and thereafter, the revision will be on quarterly basis.
From May 1, the BAF at the same rates will be applied to Maersk's westbound service to North America (Indian sub-continent/West Asia- North America.), it is learnt.
From October 1, there is a proposal for the revision in BAF on both east and west bound services between Europe and the Indian sub-continent (Europe-West Asia- Pakistan-India-Sri Lanka-Bangladesh/India-Pakistan-Bangladesh-Sri Lanka-West Asia-Europe). However, the extent of rise for the services to and from Europe are yet to be announced. Thereafter, revision will be on monthly basis.
There is a further proposal to revise from July 2009 the BAF in all directions on the services covering Asia/West Asia-Pakistan-India-Sri Lanka, it is learnt.
"The aim is to provide a 'simply, fair and transparent BAF' which will allow customers to 'share the risks and opportunities' of fluctuating bunker prices," according to Maersk sources.
With crude prices having breached the $100-per barrel barrier, but now showing signs of easing, revision in BAF was overdue. Separate notices for each service are being issued, add the sources.
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