IMO 2020: Introduction of EFF - MED Trades
In addition to the previous announcement, Hamburg Süd will also introduce an Environmental Fuel Fee (EFF) effective 16th December 2019 on all Intra-European Trades to cover the increase in fuel-related costs associated to the implementation of the IMO 2020 regulation.
The EFF tariffs have been calculated using the price difference between high sulphur fuel and low sulphur fuel. The difference calculated is 164,54 USD/ton. The details on the period and reference port used for the calculation can be found in the table below.
|IFO 380 (USD/ton)||01JUL19 - 31SEP19||350,01|
|*LSMGO - 50 (USD/ton)||01JUL19 - 31SEP19||514,55|
|Difference (USD/ton)||01JUL19 - 31SEP19||164,54|
*Until a reliable price index for fuel with 0.5% sulphur content is available, Hamburg Süd will take the 0.1% gas oil index deducted by 50 USD/ton.
For all agreements subject to Hamburg Süd’s BAF, the EFF will expire after December 31, 2019. The tariff values can be found HERE.