Dear Valued Customers,

As from 1 January 2020, the International Maritime Organization (IMO) will require all commercial vessels to reduce their Sulphur emissions into the atmosphere by using marine fuels with sulpher content not exceeding 0.5% in all shipping areas (except in ECA areas where a maximum of 0.1% remains).

Thus, from 1 January 2020, our ships will have to consume exclusively 0.5% or 0.1% LSFO (Low Sulfur Fuel Oil), much more expensive than the HFO (Heavy Fuel Oil) used until now.

This very significant change in bunker costs on the West Indies implies an overhaul of our fee structure. We will now integrate a larger proportion of our fuel expenses into our base freight rates and set up a new Bunker Adjustement Factor (BAF) that can be revised monthly to reflect fluctuations in LSFO purchase prices.

From 1 December 2019 onwards, we are revising our pricing as follows:

 Introduction of a new BAF (CAPIF replacement): 185 € / TEU

Integration of the differential in our Caribbean freight rates: + 370 € / TEU

 The LSS (Low Sulphur Surcharge) surcharge will continue to apply in addition to the BAF for maritime transport to and from ECA areas.

Our teams remain at your entire disposal for any additional information you may need.

We thank you for your trust.