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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


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

drewry_logo_corporate.gif

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


Hydrogen Fuel Cells May Power Seaports

Sandia National Laboratories researcher Joe Pratt stands near the Port of Oakland, one of the west coast ports he studied to learn whether hydrogen fuel cells are a viable power source for docked ships. (Photo by Steffan Schulz)

Providing auxiliary hydrogen power to docked or anchored ships may soon be added to the list of ways in which hydrogen fuel cells can provide efficient, emissions-free energy. Hydrogen fuel cells are already powering mobile lighting systems, forklifts, emergency backup systems and light-duty trucks, among other applications. Now, researchers at Sandia National Laboratories have found that hydrogen fuel cells may be both technically feasible and commercially attractive as a clean


China Cosco's Profit Up 54%

Pic: COSCO Container Lines Company Limited

 The Shanghai-and-Hong Kong-listed flagship unit of China Ocean Shipping Group, China Cosco Holdings Co Ltd says that its 2014 net profit went up 54 percent y/y at 362.5 million Yuan ($58.37 million), on government subsidies for scrapping old tonnage.  


Container Shipping Outlook Uncertain in 2015: AlixPartners

Photo courtesy of Maersk Lines

  The outlook for the global container shipping industry remains challenging for the remainder of 2015, according to a new report from AlixPartners.   In its annual outlook for the industry, the global business-advisory firm predicts that operating improvements will continue to prove


EPA’s SmartWay Initiative Makes Way on the Water

Photo: Donald Hutton

Exhaustive studies by The National Waterways Foundation (NWF), a center for research and learning where industry leaders address public policy issues related to America’s inland waterways system, conclude that inland waterways transport generates fewer emissions of particulate matter


Hong Kong's Clean Fuel Rules May Cost Shippinglines

Image: The Port of Hong Kong

 The bill requiring ocean going ships to switch to low sulfur fuel while at berth in Hong Kong could effectively raise the cost of shipping containers through the city.   Under the new Hong Kong Air Pollution Control (Ocean Going Vessels) (Fuel at Berth) Regulation


Transport Sector to Give Lift to Oil Demand

Demand for oil is intimately connected to the demand for transportation in the United States and the other advanced industrial economies. Cars, trucks, airlines, railways and shipping accounted for 71 percent of total U.S. oil consumption in 2013, according to the U.S


Horizon Lines Post 4Q 2014 Results

The story of Horizon Lines is really the story of containerized shipping in America

Horizon Lines, Inc. today reported financial results for the fiscal fourth quarter ended December 21, 2014. "Horizon Lines' fourth-quarter adjusted EBITDA increased 26.6% over the same period a year ago. The improvement in adjusted EBITDA was driven largely by higher fuel recovery


New Hybrid Tug Joins Multraship Fleet

Photo: maritimephoto.com

Dutch towage and salvage specialist Multraship has welcomed into its fleet Multratug 28, an energy efficient hybrid Damen ASD 2810-type tug with FiFi 1 firefighting capabilities.   Damen’s ASD 2810 Hybrid is a new design, and this is the second of its class to be built


First LNG-powered EcoLiner Launched

Damen EcoLiner (Photo: Damen)

Europe’s greenest inland vessel debuts Damen group innovations   Damen Shipyards Group launched the first LNG-powered Damen EcoLiner inland shipping tanker at its Romanian yard in early February. The EcoLiner, developed to deliver fuel economy for inland shipping operators while


Wärtsilä, CME Offer ‘Scrubber Finance’

Funding concept promotes installation of scrubber systems by offering financing to shipowners, with returns taken from fuel price spread   In a move intended to help ease the financial burden on shipowners seeking to install scrubber systems to meet sulphur emissions legislation


Wärtsilä, Clean Marine Energy Offer "Scrubber Finance"

Wärtsilä Open Loop Scrubber System

  Wärtsilä and Clean Marine Energy (Europe) Ltd (CME) today announced the landmark signing of the shipping industry's first collaboration agreement that will provide a convenient funding solution to drive the uptake of exhaust gas cleaning technology


Irish Ferries Owner Revenues up 9.6%

Irish Ferries

 Irish Continental Group, the company behind Irish Ferries, posted a 9.6pc increase in revenue last year (2014) in taking Euro 290.1 million.   ICG's ferry division grew by 14 percent - and its container & terminal division grew by 2.6 percent. Its pre-tax profits were €56


Are Megaships Game Changers?

Image: A.P. Moeller-Maersk Triple-E

 Bragging rights for the world’s largest container ship have changed hands four times in as many months and keep on shifting again, says a report in the Bloomberg.   The megaships have come to dominate container shipping with astonishing rapidity over the past decade


Oil Storage at Sea Stalls as Profit Play Fades

Traders are cutting plans to use tankers to store oil at sea as the price incentive recedes, the global head of oil at mining and commodities group Glencore's said on Tuesday.   In January, the price of spot oil was around 50 percent lower than a peak hit in June


Damen ASD 2810 Hybrid Tug Delivered to Multraship

Multratug 28 (Photo: Damen)

Multraship took delivery of a Damen ASD 2810 Hybrid tug vessel, built at Damen Shipyards Galaţi, in Romania. The delivery is part of Multraship’s fleet expansion program, which involves a number of Damen vessel orders.   The new vessel, named Multratug 28


Ferus Smit Launches Nordana Sky

Nordana Sky (Photo courtesy of Ferus Smit)

Ferus Smit launched multipurpose vessel Nordana Sky in Leer on February 21.   Nordana Sky, built as yard number 417, is the first in a series of six that will be delivered to Symphony Shipping. The ship will be chartered out to the Danish company Nordana and sail in her fleet after delivery






 
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