IMO 2020: Introduction of EFF
Hamburg Süd will introduce an Environmental Fuel Fee (EFF) effective 1st December 2019 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 193,08 USD/ton. The details on the period and reference ports used for the calculation can be found in the table below.
|IFO 380 (USD/ton)||26SEP19 - 25OCT19||297.73||372.59||392.43||354.25|
|*LSMGO - 50 (USD/ton)||26SEP19 - 25OCT19||517.77||542.60||581.64||547.33|
|Difference (USD/ton)||26SEP19 - 25OCT19||220.05||170.00||189.20||193.08|
*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.