Fred. Olsen Revises Fuel Supplement Policy

In line with the falling price of oil in recent weeks, Fred. Olsen Cruise Lines has reviewed its policy regarding fuel supplements.

For cruises departing after January 1, 2009, passengers will be refunded their fuel supplement if the price of Brent Crude Oil 1M (as quoted in the Financial Times) converted to Sterling is, on average, less than £40 per barrel in the previous calendar month before their departure.

In these circumstances, the refund will be provided in the form of a credit to their on-board account for their cruise.  No cash alternative will be offered. The price is quoted in British pounds as this is the currency in which its business is conducted, and is the onboard currency used on Fred. Olsen ships.

Fuel supplements will remain in place subject to the refund policy outlined above.
Fred. Olsen operates a fleet of five ships mostly on cruises from the UK;  currently two are operating in the Western Hemisphere. Braemar will be based in Miami for the winter season and Boudicca will be based in Barbados.

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