Maersk: Shippers Will Only Pay For IMO 2020 "Cost Recovery" [Yahoo! Finance News]
A.P MOLLER-MRS UNS/ADR (AMKBY)
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Source: Yahoo! Finance News
Maersk: Shippers Will Only Pay For IMO 2020 "Cost Recovery" Maersk Line will only charge for the "extra cost of compliance" as the carrier introduces new IMO 2020 low-sulfur fuels in the coming months. As reported by FreightWaves Shippers have also complained about a lack of transparency, suspecting that some container lines will use the introduction of the new fuels to bolster profits. However, Silvia Ding, global head of ocean products for A.P. Møller – Maersk, told FreightWaves that while customers should expect to pay more due to the higher pricing of IMO 2020-compliant low-sulfur fuels, Maersk was only focused on recovering costs. "Low-sulfur fuels are significantly more expensive," she said. "As multiple industry reports have stated, being in a low-margin industry carriers cannot shoulder the cost alone; it must be passed on through the supply chain." Maersk will adjust its bunker adjustment factors BAF) based on the price of low-sulfur fuels from Jan. 1 for long-term contracts
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- 2/21/24 - Sanford C. Bernstein