ShippingWatch

Frontline agrees with Maersk Tankers bunker price fear

The big Norwegian tanker company, Frontline, agrees with the concerns voiced by rivals Maersk Tanker regarding the runaway bunker prices considered to be affecting the tanker sector more than other sectors in the shipping industry.

Maersk Tankers is not the only company which is concerned about the drastically increasing bunker prices judged by the industry to affect tanker companies much more than other shipping sectors.

Maersk Tankers has started a judicial scrutiny of the possibilities of finding a solution within the industry with participation of competitors and clients. In an interview with ShippingWatch, the CCO of Maersk Tankers, Klaus Rud Sejling, has said that bunker prices have spun out of control as the tanker companies’ long-time basis for rate calculation, Worldscale Freight Rate Schedules, does not compensate the companies for the very high bunker costs to a sufficient degree.

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