BC Ferries to Implement Fuel Surcharge

Marine
Sunday, January 05, 2014
BC Ferry: Photo courtesy of the owners

BC Ferries explains that due to current world fuel market conditions the company is advising customers that a fuel surcharge will be implemented on the majority of its routes on January 17, 2014.

The fuel surcharge will be 3.5 per cent on average on all of its routes with the exception of the Port Hardy - Prince Rupert and Prince Rupert – Haida Gwaii routes which will not be affected.

“Market pricing indicates that the price differential will continue throughout the year,” said Mike Corrigan, BC Ferries’ President and CEO. “We are well aware that implementing a fuel surcharge is unpopular with our customers, and we are doing everything we can to keep our fuel costs as low as possible, including building new ships with LNG capability. We have waited as long as we can to implement a surcharge, however we must act now as it is clear that fuel prices are unlikely to decline in the foreseeable future.”

While the company has reduced its fuel consumption by 5.8 million litres since 2004, the cost of fuel in fiscal 2013 was $121 million, up from $50 million in fiscal 2004. The company points out that it is not immune to world commodity markets and their impact on the price of diesel. Each 1 cent per litre increase in the cost of diesel translates into a $1.2 million increase in company expenses.

For further information go to: www.bcferries.com/bcfnews/

 

 

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

China Merchant Boosts Efficiency of VLCCs with Jotun HP

China Merchant Energy Shipping Co., Ltd (CMES) will upgrade the antifouling solution on their VLCCs New Builds at Dalian Shipbuilding Industry Co., Ltd. (DSIC)

ESAB Boasts Over a Century of Technological Innovation

September 2014 marks the 110th anniversary of ESAB Welding & Cutting Products. A world leader in welding and cutting technology, with the broadest, most complete

SMM 2014 Witnesses Record Turnout

SMM was another full success. With more than 2,100 exhibitors from all around the world, including 150 first-timers, with 50,000 industry visitors and roughly 90,

Finance

Deal to End Lockout at Canada Uranium Mine

Canadian uranium producer Cameco Corp and the United Steelworkers union, which represents 535 workers at the world's largest uranium mine and a nearby mill,

Oil Refiner Bound to Goldman, Deutsche Fee Agreements - NY Judge

CVR Energy Inc is bound by agreements to pay Goldman Sachs Group Inc and Deutsche Bank AG more than $36 million in fees and expenses stemming from billionaire

Short-Term U.S. Energy Outlook

The U.S Energy Information Adminstration have provided projections in their short-term Energy Outlook. The highlights are as follows: Highlights     *

Fuels & Lubes

Porter Voices Concerns Over Texas Pipelines

Commissioner David Porter of the Texas Railroad Commission (RRC) Tuesday visited several south Texas border oil and gas facilities and pipeline rights-of-way to meet with field staff,

DNV GL: Beyond Condition Monitoring in the Maritime Industry

Moving from a regime of scheduled rule-based maintenance to a data-driven risk-based regime can lead to more accurate and timely maintenance resulting in increased safety,

Brent Holds Above $98 Despite Weak Demand

Brent crude held above $98 a barrel on Friday, heading for its worst week in six as concerns over weak demand outweighed geopolitical worries in the Middle East and Ukraine.

Ferries

Video: Vessel Operators Remember 9/11 Heroism

On the 13th anniversary of the terrorist attacks of September 11, America’s tugboat, towboat and barge industry pauses to remember the nearly 3,000 Americans who lost their lives,

Rolls-Royce Propulsion Systems for New Finnlines Ferries

Rolls-Royce says it has won a contract to install its efficient Promas Lite propulsion system on two vessels for ferry operator Finnlines. Promas Lite is an integrated

WFSA Ferry Design Competition: University Team Wins

The World Ferry Safety Association (WFSA) has announced the results of its Second Annual international student design competition for a Safe Affordable Ferry. The top prize of $5,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Pipelines Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2643 sec (4 req/sec)