Page 22: of Maritime Reporter Magazine (February 1997)

A/S Dan Bunkering Offers New Fixed Price Arrangement

New plan puts a hedge around uncontrollable bunker prices

There are innumerable world events and situations which will forever make the price of oil fluctu- ate widely. Whether it be war, environmental concerns or politi- cal sanctions, a shipowner/opera- tor's bunker purchase department has to live with the fluctuations in the bunker prices and buy when it is about to run out of fuel. A/S Dan

Bunkering has devised a new

Fixed Price Agreement to relieve some of the uncertainty.

The company has established a hedging concept — designed to run for six to 12^»onth^—w' been tested for pvTe tha with a/ran® aweleS^ie ownerlppft^tor lgefc^m amount of fuel delivered at a firm

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Circle 318 on Reader Service Card price per ton, and an agreement is made for a specific harbor/bunker pcation. For the plan to work effi- ently, the owner/operator has to e fairly sure of the amount to be uring the agreement period.

While the agreements are irrevo- cable, there is some protection.

There is an option to include a "down-side opportunity" which allows the bunker buyer to benefit in case the bunker markets fall below a certain level.

According to the company, its

Fixed Price Agreement puts the responsibility of purchasing bunkers onto the bunker company in return for advantageous price.

For more information on the new plan

Circle 12 on Reader Service Card

USCG Initiates River Safety

Change

The Eighth Coast Guard (USCG) District Headquarters in

New Orleans directed its Captains of the Port to assess their ports and determine which passenger vessels moor or /anchor in areas where they could be endangered by ship or Karge traffic. The

Captains were further advised to require these vessels to have their bridges /manned by a qualified crew member whenever passen- gers are onboard.

Current N^gulations do not require a briajsre watch on moored vessels, howevek this requirement will be initially implemented through administrative directives and ultimateljy the regulations will be modified. Included in those vesseWneing assessed are: excursion vessels; ferries; and for- eign passenger vessels. Certain vessels, jsuch as gaming boats located ill a moat and small pas- senger vesk^ls, will not be includ- ed in this requirement.

This directive^&temming from the M/V Bright Field collision with the New Orleams Riverwalk, focuses on the ability to immedi- ately alert passengm-s of impend- ing emergencies wlfen a vessel is moored or at anch/r. If a passen- ger ship has its badge manned, it will be able to receive emergency marine-radio broadcasts, monitor waterway activity, rapidly sound the alarm and direct passengers to safety. 22 Maritime Reporter/Engineering News