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Fuel Costs

Taking the Guesswork Out of Bunker Procurement

Inatech launches its Optimizer to add smart decision making for fuel purchasing to its cloud-based management solution for the entire fuel procurement process. The company explains that Optimizer helps ship operators take the guesswork out of their fuel purchasing decisions by providing real-time guidance on the three key factors of quantity, location and price strategy-how much fuel to buy for each ship in their fleet, the best port to bunker at and the right price strategy (spot versus contract). In ongoing proof of concept evaluations for large shipping companies, Inatech's Optimizer has been shown to deliver real-world fuel cost savings of up to five percent. With an average shipping company spending around $400 million a year on bunkering that saving could add some $8million to their bottom line. How Optimizer saves fuel procurement costs – a typical scenario

 The value of Optimizer is best shown in a typical scenario of a vessel that burns 75 tons of fuel a day for around 270 days each year. At $625 per ton, the ship's operator will spend approximately $12.7 million a year on fuel. A shipping company utilising Inatech's ShipTECH fuel procurement solution can already achieve savings through streamlined procurement. This is made possible firstly through a systematic workflow that avoids last minute purchases


Damen Debuts Quick Docking/Fuel Saving Package

Castillo de Catoria (Photo: Damen Shiprepair & Conversion)

Damen Shiprepair & Conversion has developed a new innovative product, the Quick Docking/Fuel Saving package. This offers owners a fast and low-cost additional docking with the sole aim of reducing fuel consumption in between the five-year statutory survey period. The first vessel booked under the new concept has docked at Damen Shiprepair Brest (France). It is the capesize bulker Castillo De Catoira operated by Spanish company Empresa Naviera Elcano


News: Poor Weather, Repairs Forces Kirby to Lower Expectations

"Very poor weather, major repairs to a lock on the Gulf Intracoastal Waterway and rapidly escalating fuel prices, not lower business levels, are the factors causing Kirby to revise its first quarter forecast," were a few reasons that Joe Pyne, Kirby Corporation's President CEO, cited for the company's lowering of its earnings guidance for the 2003 first quarter to $.26 to $.30 per share from previous guidance of $.36 to $.40 per share


Seaware Routing Version 5

Photo courtesy ÖRN Marketing AB

Seaware AB announced a new major upgrade for its Seaware Routing software, introducing cost-based ship route optimization. The Seaware Routing software is designed to facilitate on board weather presentation and ship route planning, and is delivered as part of weather routing solutions from Seaware partners. Seaware Routing version 5 has been developed with special attention to optimization of short sea passages


Two New Anti-fouling Coatings Introduced

International Paint introduce Intercept®8000 LPP & Intersleek®1100SR a biocide-free slime release coating.  Designed to address the industry issues of predictability in antifouling performance not seen since the days of tributyltin and the difficult issue of slime fouling on ships hulls, the two new technologies are set to improve vessel operating performance, increase efficiency and help control fuel costs and emissions.


Carnival Sails to Profit

Image:  Carnival Corporation & plc

 The world's largest cruise company Miami-based Carnival Corp reported a net profit of $49 million, or 6 cents per share in the first quarter ended Feb. 28.   That compared with a loss of $20 million, or 3 cents per share, in the 2014 quarter. Earnings, adjusted for non-recurring costs, were 20 cents per share.   The profit beats analysts’ estimates, spurred by lower fuel costs and higher passenger spending. The shares jumped the most since August 2011.  


Fuel Prices Drive Ferry Fares Up

Rising fuel costs may mean another fare hike for ferry riders. The Washington State Transportation Commission last week directed the ferry system to cover a $10 million shortfall blamed on the high cost of diesel fuel. Fare increases between 5 percent and 20 percent are now under consideration, as well as capital improvement cutbacks and asking the state Legislature for more money. The WSF Tariff Advisory Committee will likely convene soon to review WSF’s finances and possibly recommend


Bestobell and W&O Enter Distribution Deal

Actuated globe valve with flanged end connections

Bestobell Valves, part of the President Engineering Group (PEGL), has named W&O Supply, a global supplier of marine pipe, valves and fittings, valve automation, and engineered solutions to the marine and upstream oil and gas industries, as its exclusive distributor for Bestobell Valves in North America. Through this partnership, Bestobell Valves, headquartered in the United Kingdom, and W&O, headquartered in Jacksonville, Florida


Cheaper Fuel to Boost Container Shipping

Photo: Tanner Matheny

Lower oil prices are sharply reducing the cost of shipping merchandise from Asia to the United States and Europe as the cost of bunker fuel tumbles. Container shipping companies deal with the volatility in fuel prices by adding a separate bunker adjustment factor or fuel surcharge to their freight rates. Fuel can account for more than 60 percent of the total operating costs of moving freight across the oceans so the surcharges are one of the most important elements of total


Which way will container freight rates go? Carriers at crossroads, says Drewry

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New Drewry special report examines drivers of container freight rates, provides five year forecasts of major east-west trades and offers suggestions for carriers and shippers on how to smooth pricing volatility. London, UK, 14th March 2011 – Container freight rates go up and then they go down - that’s just the way things are. This almost pathological acceptance that things cannot and will not change is a symptom of a deficiency within container shipping’s DNA that prevents


FERC Approves Excelerate’s Offshore GasPort

Rendering of the proposed facility, the Aguirre Offshore GasPort (Photo: Excelerate Energy)

Excelerate receives approval to move forward with the construction and operation of LNG terminal   On July 24, 2015, the U.S. Federal Energy Regulatory Commission (FERC) issued its order granting authorization to Excelerate Energy, in cooperation with the Puerto Rico Electric Power


Jotun to Update Performance Guarantees

The 17 National Standardization Bodies represented on ISO’s Marine Environment Protection Sub-committee (ISO-TC8-SC2) has voted in favor of circulating ISO 19030 parts 1 and 2 as Draft International Standards. In anticipation of final approval of the standard expected next year


New Fast Small Ship Simulator

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A new Fast Small Ship Simulator for training crews working on high speed boats is in development. Together with Cruden and Tree C Technology, the Royal Dutch Naval Defense School and the Royal Dutch Navy’s Surface Assault Training Group


Singapore Grows Box Terminal, Woos Mega-Ships

Image: file photo.

Singapore opened the newest addition to its container port on Tuesday, aiming to handle more of the increasing number of mega-ships plying the oceans. A few of the planned 15 berths in Phases 3 and 4 of the Pasir Panjang Terminal are operational. The rest of the S$3.5  billion ($2


Honeywell Global's Satellite Terminals for Asset Tracking

TAM-442

  Honeywell unveils the TAM-442 satellite terminal for asset tracking and monitoring. This battery-powered terminal from Honeywell Global Tracking, a division of Honeywell Scanning and Mobility, is rugged, versatile and ideally suited for tracking a wide range of mobile and fixed assets


Ferus Smit to Launch Nordan Star

Nordana Star (Photo: Ferus Smit)

Ferus Smit informs it will launch Nb. 418 Nordana Star for Symphony Shipping on Friday, July 3, at its shipyard in Leer, Germany. Nordana Star is the second vessel in a series of six to be delivered to Symphony Shipping. As her name reveals


DNV GL, Jotun Cooperate on Hull Performance

From left to right: Dr. Torsten Büssow, DNV GL’s Head of Fleet Performance Management; Albrecht Grell, Director of the Maritime Advisory division at DNV GL; Geir Boe, Vice President Marine Coatings at Jotun; and Stein Kjølberg, Global Sales Director, Hull Performance Solutions at Jotun.

DNV GL and the Norwegian paint manufacturer Jotun signed a cooperation agreement to work on improving hull performance at Nor-Shipping today. The project will bring together two performance management services, Jotun’s Hull Performance Solution and DNV GL’s ECO Insight solution


Norsepower’s Rotor Sail Solution Successfully Tested

Norsepower Rotor Sail Solution was installed on the 9,700 DWT Ro-Ro carrier MS Estraden

  Norsepower’s Rotor Sail technology confirms fuel-saving potential in two independent trials by NAPA and VTT Technical Research Centre of Finland Norsepower Oy Ltd. and Bore Ltd today carried out successful sea trial of Norsepower’s Rotor Sail Solution


Scandlines Orders Ferry Battery System

Corvus Energy announces the signing of marine Energy Storage System (ESS) contract with Scandlines Denmark ApS; world’s largest battery hybrid electric fleet orders additional 2.6 MWh of Corvus lithium polymer batteries   Corvus Energy announced that that it will deliver an additional


China Denies Kra Canal Deal

The Kra-Canal Project. Map: International Institute of Marine Surveying

 China has denied it is involved in work on the Kra canal, defusing hype over a project that purportedly lets ships bypass the Strait of Malacca and Singapore's port, reports Strait Times.   There are no plans by the Chinese government to participate


Hapag Lloyd Back in the Black

Image: Hapag-Lloyd AG

 German container line Hapag-Lloyd has defied the challenging market environment in the containership market and returned to profit in the first quarter of 2015 euros as a stronger dollar and lower bunker prices helped to offset weaker freight rates.  


Hanjin Swings to the Black

Photo: Hanjin Shipping Co

 South Korea's leading shipping line Hanjin Shipping Co has swung to the black in the first quarter from a year earlier thanks to lower fuel costs and better streamlined shipping routes.   Net profit came to 22.91 billion won (US$21 million) in the January-March period


Seatrade Award for DNV GL Classed 'Ampere'

Ampere wins Seatrade Award, Credit Samferdselsfoto.small

  Ampere, the world’s first large fully electric vessel, has received the Seatrade Clean Shipping award for 2015. Owned and operated by Norled and designed and constructed by Fjellstrand, the DNV GL classed car ferry is a fully battery driven catamaran made of aluminium


Volvo Penta Offers Extended Warranty

Volvo Penta

  Volvo Penta has doubled the warranty on Genuine Volvo Penta Parts and Accessories that are purchased and installed at a Volvo Penta dealer — creating even better protection for customers.   Volvo Penta offers a comprehensive 12-month warranty on Genuine Volvo Penta Parts


Big Data Helps Shippers Cut Fuel Bills, Emissions

Photo: Maersk

By focusing on operational improvements, shipping companies are reducing fuel consumption, saving money and cutting greenhouse emissions, while continuing to increase the amount of freight transported.   Maersk Line, the world's largest container carrier






 
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