Maersk Line is replacing the existing Bunker Adjustment Factor (BAF) by its new Standard Bunker Adjustment Factor (SBF). The changes will be introduced on January 1, 2012 and they will relate to all trades except the Pacific trade between Asia and North America.
According to John Nielsen, Head of Charge Management, Maersk Line , the BAF will be simplified with all unnecessary elements removed thus it will be tailored to new deployments and consumption that slow-steaming have brought forward.
Effective as of May 1, 2012, for the Pacific trade, the new SBF formula will feature simpler, updated and transparent calculation for bunker price adjustment in service contracts and in the tariff. For the Pacific trade, the SBF will be effective on 1 May, 2012.
The Bunker Base element, which was different per trade and which had no effect on the fluctuations of the BAF levels, is now removed. The new SBF formula means fewer elements, easier calculation and improved transparency. It is an adjustment factor for bunker price fluctuations to ensure that neither the customer nor Maersk Line is punished by bunker price fluctuations during the contract period.
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World Maritime News Staff, December 15, 2011; Image: Maersk