Business Daily from THE HINDU group of publications
Wednesday, Jan 23, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Wednesday, Jan 23, 2008 ePaper | Mobile/PDA Version |
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Logistics
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Shipping Maersk Line unveils new BAF formula Our Bureau Kolkata, Jan. 22 Maersk Line, which offers services to and from Pipavav port (Gujarat), Jawaharlal Nehru port and Chennai port, has introduced a new formula for its floating BAF (bunker adjustment factor), according to company sources. The formula, which is based on the same principles as are common in other transportation industries such as airlines and parcel services, builds on elements such as fuel consumption, transit time and imbalances in container flow. However, only changes in oil prices will entail changes in the BAF level, the sources point out. The customers will, therefore, only pay the variation in cost, and although the BAF rises when fuel prices climb, they also stand to benefit from downward trends. It might be noted that bunker prices have tripled in past three years and the bunker costs now constitute nearly half of the total costs, up from 20 per cent, 10 years ago. The various trades will implement the new Maersk Line BAF formula separately, beginning first quarter of 2008. More Stories on : Shipping
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