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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.


East-West Shippers See Contract Rates Slide

Ocean freight rates for cargo moving under contracts on the major East-West trade routes saw another reduction in the last quarter of 2015, according to Drewry’s Benchmarking Club, a closed user group of multinational retailers and manufacturers who closely monitor their contract freight rates. The Drewry Benchmarking Club Contract Rate Index, based on Trans Pacific and Asia-Europe contract freight rate data provided confidentially by shippers


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


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.  


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


Boxship's Bottom Line Battered Further by Fuel Rules

File image: credit Marad

Container shipping firms' annual costs have risen by a total $500 million due to new sulphur emissions regulations that have forced vessels to use higher cost fuel, the OECD said in a report on Thursday. Rising fuel costs will further hurt an industry already stung by overcapacity


New Low-emission Hybrid Azistern Tug Design

Image: OSD

Offshore Ship Designers (OSD) has designed a powerful, low-emission compact e-tug to further augment its Azistern series of vessels. Among other roles, the vessel is equipped to deliver harbor assistance.   OSD managing director Michiel Wijsmuller said


WSS: Post-combustion Fuel Treatment Cuts Vessel Costs, Risk

Exhaust gas boilers (Photo: WSS)

Wilhelmsen Ships Service, a provider of products and services to the shipping industry, is advising vessel operators to wage war on soot. According to WSS, soot accumulation in a ship’s exhaust gas boiler (EGB) is a serious issue, leading to reduced EGB efficiency, significant cleaning costs


Volvo Penta Powers Njord Offshore Crewboats

Photo: Volvo Penta

Njord Offshore’s two latest 26m offshore crew vessels (24 pax), equipped with Volvo Penta’s IPS900 Quad drives, are now ready for heavy-duty use in the North Sea.   After a year operating four new 26m crew transfer vessels (CTVs) fitted with Volvo Penta’s IPS900 Quad drives


Selektope Shortlisted for Marine Engineering Award

Gothenburg-based I-Tech’s Selektope antifouling system has been shortlisted in the Environmental Performance category by the judging panel for the European Marine Engineering Awards. The winner of this Award will be announced at the European Marine Engineering Conference and Awards gala


China Shipping Development Company Proft Surges

Photo: China Shipping Development Company Limited

 China Shipping Development Company Limited (CSDC) achieved 34.95% higher profit for 2015 totaling in RMB417 million ($64.3 million) when compared to figures from 2014, mostly due to a very strong tanker market.   The revenue was stable at RMB12.21bn in 2015 compared to RMB12


Saving with Jotun’s Hull Performance Solutions Guaranteed

SeaQuantum X200’s silyl methacrylate coating technology delivers clean hulls, saving money for owners Photo Jotsun

Jotun has analysed the first ever five year dry-docking of a vessel treated with its Hull Performance Solutions (HPS) system. The data revealed that Gearbulk’s Penguin Arrow, coated with Jotun’s SeaQuantum X200 in September 2010, recorded a staggering estimated fuel saving and CO2


Jotun’s HPS Delivers Fuel, Emission Savings

Penguin Arrow (Photo: Jotun)

Jotun has analyzed the first ever five year dry-docking of a vessel treated with its Hull Performance Solutions (HPS) system. The data revealed that Gearbulk’s Penguin Arrow, coated with Jotun’s SeaQuantum X200 in September 2010, recorded a staggering estimated fuel saving and CO2


Selektope wins European Marine Engineering Award

I-Tech Managing Director Philip Chaabane (left) receives the European Marine Engineering Award for Selektope from IACS Secretary General Robert Ashdown Photo IACS

Gothenburg-based I-Tech’s Selektope antifouling agent has secured one of the prestigious European Marine Engineering Awards 2016, in recognition of the breakthrough marine coating ingredient’s Environmental Performance. The Environmental Performance Award, sponsored by DNV GL


First Methanol-fueled Tanker Launched

Lindanger naming ceremony Courtesy DNV GL

Launched at the Hyundai Mipo dockyard in Ulsan, South Korea, the newly built Lindanger is the world’s first methanol fueled ocean-going vessel. The ship is the first of two dual-fueled 50,000 dwt tankers owned by Norwegian firm Westfal-Larsen that will be chartered to global marine


GAC EnvironHull Unveils Fuel Savings Calculator

GAC EnvironHull Photo GAC

Ship owners and operators can now compare fuel cost savings reaped by hull cleaning with GAC EnvironHull’s online fuel savings calculator. A foul-free hull offers the benefits of significantly enhanced fuel efficiency and lower operating costs by reducing resistance in the water


Symphony Sun’ Launched in Leer

Launching Symphony Sun’ Photo Symphony Shipping

On Friday the 29th of April, Nb. 420 was launched in Leer. She was christened ‘Symphony Sun’ and is the fourth vessel in a series of 6 that will be delivered to Symphony Shipping. Symphony Sun is a vessel of our ‘Ecobox’ design


Container Shipping Demand Weakens

Graph: BIMCO

 The demand for container shipping is really not going anywhere at the moment. Indicators for growth in the first months of 2016 point to limited overall demand and huge variations from trade to trade. In addition, all numbers are impacted by Chinese New Year


Voith Linear Jet Offers Fuel Savings

Mark Harvey (Photo: Voith Turbo)

Crew transfer vessel operators using the new Voith Linear Jet (VLJ) marine propulsion system can save over £75,000 in fuel costs in a season, the manufacturer claims.   The cost saving, around 20 percent, is a key figure from the collection of extensive data from four months’


Petronas Chooses Jotun Antifoulings

Seri Amanah (Photo: Jotun)

Petronas has selected Jotun’s Hull Performance Solutions (HPS) antifouling system for two LNG vessels chartered from MISC.   The advanced antifouling coatings and a full suite of performance measurement sensors will now be applied to Seri Amanah and Puteri Zamrud in a move that will






 
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