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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


New Energy Storage Solutions for Marine Hybrid Market

XALT Energy’s newest scalable marine power offering for marine power needs, the XPAND Modular Pack Architecture, will be showcased at the 2016 Electric & Hybrid World Expo in Fort Lauderdale, Fla.   According to XALT Energy, the system’s design provides workboat operators


Rolls-Royce to Power Oman Police Vessels

Image courtesy of Rolls-Royce

Rolls-Royce informs it has signed a contract with Finnish company Marine Alutech Oy Ab to provide 28 Waterjets for 14 Watercat K13 Fast Intercept Craft (FIC) ordered by the Royal Oman Police. The boats will be built at the Marine Alutech Yard in Finland and are due to be delivered by the end


Box Rates Drop, Chinese New Year No Help

File Image:Maersk

Falling shipping freight rates for transporting containers from Asia to Northern Europe on Friday showed there was no traditional surge in cargo exports from China ahead of the Chinese New Year, indicating a bleak outlook for the industry.


Royal Caribbean Posts 4Q Profit

Photo: Royal Caribbean Cruises Ltd

 Royal Caribbean Cruises Ltd reported 2015 results and provided guidance for 2016. Continuing on its Double-Double trajectory, the company’s adjusted earnings for 2015 were $4.83 per share – up 42% over 2014, and are expected to further increase to $5.90 – $6.10 in 2016.


Box Ship Demand Down

Photo: CMA CGM

While, weak spot prices and higher futures prices created demand for oil tankers has boomed, bulk carriers have been hit by massive overcapacity, as Chinese demand for such commodities has collapsed, says latest report from the Economist.  


Damen Debuts FCS 1605

1605 design Pic Damen  Shipyards

  The Damen Shipyards Group recently unveiled a series of new vessel designs based on its popular 16 metre long, 5 metre wide, semi Axe Bow design. The first of the vessels is owned and operated by Van Oord for crew transfer in the Caspian Sea.


Clean Energy Bunkers Isla Bella with LNG

Photo by Clean Energy Fuels Corp.

  Clean Energy Fuels Corp. participated in a little history last month when it supported General Dynamics (GD) NASSCO’s launch of the Isla Bella container ship, the first of its kind to operate on LNG fuel. Clean Energy provided bunkering services and fuel from its Boron


Stena Goes Green with LEMAG

LEMAG’s Pre-mounted emulsion and water supply unit (Photo: LEMAG)

Stena leverages LEMAG’s SLASHPOL-E WIF homogenizers to reduce NOx emissions, particulate matter, smoke and fuel consumption   Since fitting the first LEMAG SLASHPOL E-WIF FQI (fuel quality improver) homogenizer on the Stena Carrier over five years ago


Tanker Futures Market Booms as Rates Rally

Freight forward agreement (FFAs) trade rises. The market for hedging oil tanker freight has revived sharply this year to a value of $4.5 billion after years of torpor, with ship owners looking to profit from a freight rally and more energy companies scramble to cover risk, industry sources say


DNV GL, Hempel to Cooperate for Fleet Performance Improvement

(left to right): Claes Skat Roerdam, Fouling Control Marketing Manager at Hempel, Christian Ottosen, Group Vice President Marine Marketing at Hempel, Tor E. Svensen, DNV GL Group Executive Vice President, and Vincent Li, General Manager Maritime Advisory Greater China at DNV GL  (Photo: DNV GL)

Press release - To reap the benefits of any efficiency improvements, reliable measurement and analytics are essential, both to set baselines and to calculate returns. Today, at Marintec China trade fair, Hempel and DNV GL signed a cooperation agreement to work together to bring customers clear


Moody’s: US ports industry outlook remains stable for 2016

File Image (Marad)

The outlook for the US ports industry is stable for 2016 on the expectation of continued economic growth and a steady rise in US container volume, Moody’s Investors Service says in “Ports – US: 2016 Outlook – Container Volume Growth Supports Stable Outlook.”


Finland's New Icebreaker Polaris Named in Helsinki

Photo: Arctech Helsinki Shipyard

A naming ceremony was held today for Finland’s new-generation icebreaker, Polaris, built at Arctech Helsinki Shipyard.   Presently under construction at Helsinki Shipyard, the vessel is designed especially for icebreaking operations in the Baltic Sea and will be fitted for oil


Global Shippers Seek Sustainability

Photo: Breakthrough Fuel

 With the Paris U.N. Conference on Climate Change nearing an end, it has again put the spotlight on companies who have opportunity to make positive changes to their overall environmental footprint.    “Developing environmental practices and creating sustainability is a


Energy Management is the Future of the Cruise Industry

Photo: Eniram

Royal Caribbean Cruises teams up with Eniram, cutting fuel costs by millions of dollars and reducing emissions of CO2 by tens of thousands of tons by improving energy efficiency through innovation.   Cruise shipping is one of the fastest growing sectors in tourism


The Impact of Lower Oil Price on LNG Vessels

Image: OPEC

 Opec study on the impact of lower oil price assumptions on the penetration of LNG vessels has released.   In light of the regulations on sulphur emissions issued by the IMO the prospect of using LNG as an alternative bunker fuel was explored.  






 
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