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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


China Shipping Line to Buy 10 Vessels

Photo: China Shipping Container Lines Co

 China Shipping Container Lines Co is planning to buy around 10 ultralarge container ships for around $1.5 billion, despite the shipping industry struggles with a capacity glut, reports WSJ.   The company wants to fulfill capacity commitments in its Ocean Three alliance with


CMA CGM's Profits Jump 67% in Q2

Photo: CMA CGM

 French shipping giant CMA CGM, reported a 66.7% jump in net profit to $156m in the second quarter of 2015. The result compared to a $94m net profit in the same period a year earlier.    The world’s third largest container line says that its unit costs fell 10


Alaska Marine Lines Reduces Fuel Surcharge

Photo: Alaska Marine Lines

Alaska Marine Lines, a marine transportation company providing barge service to and from Alaska and Hawaii, informs it has filed with the U.S. Surface Transportation Board to decrease the fuel surcharge from certain locations as a result of fluctuating fuel costs.  


Diesel-electric Propulsion for 4 Semi-sub Ships

CSBC Corporation Taiwan has chosen Siemens to supply diesel-electric propulsion systems and other accessories for four 65,000-ton semi-submersible deck cargo vessels (SSDCVs). The country’s largest shipyard is building the vessels for a customer in Singapore.  


OOIL's Profit Up

Image: Orient Overseas (International) (OOIL)

 Orient Overseas (International) (OOIL), the parent company of Orient Overseas Container Line (OOCL), said its profit had risen 32 percent year on year (y/y) to $238.6 million in the first six months of 2015, due cheaper fuel costs helped it tide over a slump in freight rates.  


Honghua Wins Order for 200 LNG Vessels

Honghua Group Ltd. informs it has signed a shipbuilding deal with LNG Power Shipping Ltd. for the construction of 200 eco-friendly inland river ships to be powered by liquefied natural gas (LNG).   The contract, worth approximately RMB760 million ($122


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






 
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