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Puerto Rico Vessel Fuel Index

Crowley Logistics

Puerto Rico Vessel Fuel Index

Quarterly Vessel Fuel Index (VFS) Index Requirements

As per tariff CPRC-602 all shipments to and from Puerto Rico are subject to the Vessel Fuel Charge (VFS). The VFS will be subject to change as per below:

North Atlantic Service

Methodology: For cargo sailing between Eddystone PA (PENN) and Puerto Rico Crowley will calculate the quarterly average of the New York MGO Fuel price as published by Platts Bunkerworld. If the quarterly average price is higher or lower than the current index tier price, Crowley will adjust the fuel charge based on the Vessel Fuel Surcharge Index corresponding tier on the first day of the following month (approximately 30 days later). See example below.

Review PeriodEffective Date
September, October, NovemberJanuary 1
December, January, FebruaryApril 1
March, April, MayJuly 1
June, July, AugustOctober 1
Trailer load or Container load via North Atlantic ports
Effective DateAverage20’40’45’48’53’VEHNIT
7/1/2020$313$185$260$285$300$345$72$260

South Atlantic Service

Methodology: For cargo sailing between Jacksonville, FL and Puerto Rico, Crowley will use a combination of two indexes to calculate quarterly fuel adjustments. We will utilize New York MGO Fuel price as published by Platts Bunkerworld and Henry Hub’s Natural Gas (LNG) price as published by the U.S. Energy Information Administration. The index will be weighted 85% LNG and 15% MGO.

Crowley will adjust the fuel based on the change in fuel price on a quarterly basis per the below:

Review PeriodEffective Date
September, October, NovemberJanuary 1
December, January, FebruaryApril 1
March, April, MayJuly 1
June, July, AugustOctober 1
Trailer load or Container load via South Atlantic ports
Effective Date20’40’45’48’53’VEHNIT
7/1/2020$185$260$285$300$345$72$260
South Atlantic Calculation Steps
  1. Calculate MGO Quarterly average
  2. Find the corresponding tier on the MGO index
  3. Multiply the 40’ amount by 15% and round up
  4. Calculate the LNG Quarterly average
  5. Find the corresponding tier on the LNG index
  6. Multiply the 40’ amount by 85% and round up
  7. Add steps 3 and 6 together
  8. Calculate the difference from step 7 to current 40’ fuel level.
  9. Repeat steps 1-8 for each equipment type/size
  • 1)  MGO Average: $530/MT
  • 2)  MGO Corresponding Tier: $500-$559
From To 20′ 40′ 45′ 48′ 53′ VEH NIT
$500 $559 $230 $305 $330 $345 $390 $90 $305
  • 3)  MGO 40’:  $305 x 15% = $45.75 rounded up to $46
  • 4)  LNG Average: $2.30/MMBTU
  • 5)  LNG Corresponding Tier: $2.26-$2.50
From To 20′ 40′ 45′ 48′ 53′ VEH NIT
$2.26 $2.50 $275 $350 $375 $390 $435 $108 $350
  • 6)  LNG 40’:  $350 x 85% = $297.50 rounded up to $298
  • 7)  $46 + $298 = $344
  • 8)  $344 – $260 (CURRENT 40’ LEVEL) = $84.
  • 9)  Repeat Steps 1-8 for each equipment type

Vessel Fuel Index Tables

From To 20′ 40′ 45′ 48′ 53′ VEH NIT
$0 $499 $185 $260 $285 $300 $345 $72 $260
$500 $559 $230 $305 $330 $345 $390 $90 $305
$560 $619 $275 $350 $375 $390 $435 $108 $350
$620 $679 $320 $395 $420 $435 $480 $126 $395
$680 $739 $365 $440 $465 $480 $525 $144 $440
$740 $799 $410 $485 $510 $525 $570 $162 $485

**Abbreviated scale. Will continue past $799

From To 20′ 40′ 45′ 48′ 53′ VEH NIT
$0 $2.00 $185 $260 $285 $300 $345 $72 $260
$2.01 $2.25 $230 $305 $330 $345 $390 $90 $305
$2.26 $2.50 $275 $350 $375 $390 $435 $108 $350
$2.51 $2.75 $320 $395 $420 $435 $480 $126 $395
$2.76 $3.00 $365 $440 $465 $480 $525 $144 $440

Monthly New York MGO Averages/Change by Month

Eff DateNew York MGO Avg20′40′45′48′53′VEHNIT
1/1/16$422$155$230$255$270$315$60$230
2/1/16$341$95$170$195$210$255$36$170
3/1/16$315$65$140$165$180$225$24$140
4/1/16$338$80$155$180$195$240$30$155
5/1/16$363$110$185$210$225$270$42$185
6/1/16$408 $140 $215 $240 $255 $300$54$215
7/1/16 $453$170$245$270$285$330$66$245
8/1/16 $444$170$245$270$285$330$66$245
9/1/16$397$125$200$225$240$285$48$200
10/1/16$436$155$230$255$270$315$60$230
11/1/16$455$170$245$270$285$330$66$245
12/1/16$457$170$245$270$285$330$66$245
1/1/17$472$185$260$285$300$345$72$260
2/1/17$511$215$290$315$330$375$84$290
3/1/17$500$215$290$315$330$375$84$290
4/1/17$498$200$275$300$315$360$78$275
5/1/17$496$200$275$300$315$360$78$275
6/1/17$471$185$260$285$300$345$72$260
7/1/17$464$185$260$285$300$345$72$260
8/1/17$446$170$245$270$285$330$66$245
9/1/17$488$200$275$300$315$360$78$275
10/1/17$517$215$290$315$330$375$84$290
11/1/17$548$245$320$345$360$405$96$320
12/1/17$564$260$335$360$375$420$102$335
1/1/18$586$275$350$375$390$435$108$350
2/1/18$628$305$380$405$420$465$120$380
3/1/18$633$305$380$405$420$465$120$380
4/1/18$607$290$365$390$405$450$114$365
5/1/18$616$290$365$390$405$450$114$365
6/1/18$687$350$425$450$465$510$138$425
7/1/18$726$380$455$480$495$540$150$455
8/1/18$723$380$455$480$495$540$150$455
9/1/18$704$365$440$465$480$525$144$440
10/1/18$720$380$455$480$495$540$150$455
11/1/18$757$395$470$495$510$555$156$470
12/1/18$738$380$455$480$495$540$150$455
1/1/19$644$320$395$420$435$480$126$395
2/1/19$607$290$365$390$405$450$114$365
3/1/19$621$305$380$405$420$465$120$380
4/1/19$636$305$380$405$420$465$120$380
5/1/19$633$305$380$405$420$465$120$380
6/1/19$648$320$395$420$435$480$126$395
7/1/19$617$290$365$390$405$450$114$365
8/1/19$610$275$350$375$390$435$108$350
9/1/19$592$275$350$375$390$435$108$350
10/1/19$581$275$350$375$390$435$108$350
11/1/19$615$275$350$375$390$435$108$350
12/1/19$618$275$350$375$390$435$108$350
1/1/20$621$320$395$420$435$480$126$395
2/1/20$649$320$395$420$435$480$126$395
3/1/20$548$230$305$330$345$390$90$305
4/1/20$472$185$260$285$300$345$72$260