13MAY2019 - NEWS - Belships hedges 2020 fuel costs

Belships ASA has entered into an agreement to hedge the price differential between compliant 0.5% sulphur fuel oil (VLSFO) and 3.5% sulphur fuel oil (HSFO).

The secured exposure is for 24,000 tons of bunkers for the full calendar year 2020. The volume equals the annual fuel consumption of about four vessels. The fixed price differential is USD 198 per ton, with monthly settlements in 2020.

The company’s trading fleet will be physically ready by January 2020 to comply with the IMO Sulphur Cap 2020, which prohibits marine bunkering fuels containing more than 0.5 per cent sulphur in order to improve the shipping industry’s environmental footprint.

Published by Editor - www.Livebunkers.com at 13-May-2019 10:46:55 [UTC] , contact editor at editor@livebunkers.com