Containers are now adjusting their Bunker Adjustment Factor (BAF) surcharges to fit with the massive decline in bunker prices that began in the 4th quarter. And this will soon be reflected by spot rates on the key trades between Asia and Europe and on the Pacific, says SeaIntel in an analysis.
There has been a lot of attention in the past month on how the sliding oil price will impact carriers. Fuel costs represent the biggest expense for the carriers, and Nordea recently estimated that the falling oil price could trigger USD two billion per year in savings for the Maersk Group alone, while other analysts have pointed out that the carriers' customers are the ones primarily set to benefit from the low oil price.
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