Maersk to introduce new fuel billing system
From January 2019, Maersk will introduce a predictive bunker adjustment factor (BAF) in order more accurately reflect the fluctuations in oil price surcharges that are passed on to its customers.
The action has been taken as the carrier is facing an extra fuel bill of more than $2bn a year following the introduction of the International Maritime Forum’s 0.5% sulphur cap from 2020.
In a statement released by the carrier it said that BAF will ‘allow customers to predict, plan and track how changes in fuel price will impact total shipping freight.’
E-commerce growth will mean 200 new freighters needed China
Boeing has said that China will need to acquire 200 more freighters by 2037 to cater for growth in the countries burgeoning e-commerce sector.
In addition, the Seattle-based global aircraft manufacturer says that China will require more than 470 converted freighters during the next 20 years. It is expected that China’s fleet of air cargo freighters will expand to 740 by 2037 from 180 in 2017.
Higher tariffs to hit China-US goods from 24 September
Higher tariffs are predicted for up to 60% of China-US containerised sea freight tonnage from 24 September, as the US imposes 10% tariffs on almost $200bn of goods, according to Transport Intelligence.
The forecast comes as Office of the United States Trade Representative (USTR) announced that the additional tariffs will be effective from 24 September 2018 and set at 10%. The additional tariffs will increase to 25% on 01 January 2019.”
Earlier in 2018, higher tariffs were placed on US$50bn of Chinese goods by the US.