Bunker methodology gains Lloyd's recognition

Morten Jensen, sales & marketing manager at Lloyd's Register (left) handing over the statement of fact to Ulrich Schittek, head of management services, after sales, at Maersk Tankers (right) Photo: Maersk Tankers Morten Jensen, sales & marketing manager at Lloyd's Register (left) handing over the statement of fact to Ulrich Schittek, head of management services, after sales, at Maersk Tankers (right) Photo: Maersk Tankers

Lloyd's Register has confirmed that Maersk Tankers' bunker adjustment methodology conforms with industry quality standards.

Launched in 2015, the bunker consumption methodology calculates how much fuel each pool vessel consumes in relation to the pool average and allows Maersk Tankers as a pool manager to distribute payments to pool partners accordingly.

Lloyd’s Register has conducted an audit of the bunker adjustment calculation engine and have assessed its conformity with established methodologies and published international standards, such as ISO 15016:2015 and ISO 19030:2016.

“We use the bunker adjustment methodology as we believe it is the fairest and most accurate way of distributing payments related to bunker consumption to our partners," explained Ulrich Schittek, head of management services, after sales, at Maersk Tankers.

Bunker adjustment rewards good operational performance and offers a healthy return on investment to pool partners that invest in the fuel efficiency of their vessels. The data used is normalised to remove external factors from performance so that all vessels are assessed under the same conditions.

Through Maersk Tankers’ pool partner platform, InSite digital, pool partners can examine adjustments for the vessels in their pool, allowing partners to compare the actual consumption of their vessel with the optimal consumption.

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