Marine link

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

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

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

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

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

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

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

Rolls-Royce Equipped Vessels Enter Service with Qatari CG

Ares 110 Hercules (Photo: Rolls-Royce)

Qatar’s Coast Guard Command has taken delivery of the first in a series of 17 composite hull boats powered and propelled by MTU high-speed engines and Rolls-Royce Kamewa waterjets.   The vessels, two Ares 75 and one Ares 110 Hercules

India to Double LNG Import

Petroleum Minister Dharmendra Pradhan and Indian PM Narendra Modi. Photo: Official FB Page

 India plans to double its LNG import capacity in one year to augment gas based transport systems. The country will seek help from Russia and the US to make such ambitious plan possible.   India plans to more than double its liquefied natural gas (LNG) annual import capacity to 50

Shippers Brace for IMO's New SOx Rules

Photo: Eric Norcross

IMO to decide whether to introduce rules in 2020, or 2025; EU, China already pushing for stricter regulation. The global shipping industry is bracing for a key regulatory decision that could mark a milestone in reducing maritime pollution

Fitch: Maersk Gets Little Solace from Sectoral Diversification

Photo: Maersk Line

 The decision by A.P. Moeller-Maersk A/S to split into two separate divisions - Transport & Logistics and Energy - reflects the challenging fundamentals in the sectors in which it operates, and diminishing counter-cyclical benefits of operating in them in the current economic cycle

Port Everglades, Panama Canal Renew Partnership

Port Everglades joins the Panama Canal Expansion Celebration in June with Chief Executive Steve Cernak (middle), joined by Port Tampa Bay CEO Paul Anderson (right), presenting a plaque on behalf of the Florida Ports Council for a presentation to Oscar E. Bazán V., Executive Vice President, Planning and Business Development, Panama Canal Authority (left).

Port Everglades and the Panama Canal Authority (ACP) have renewed their long-standing Memorandum of Understanding (MOU) to promote trade opportunities for another five years. This renewal will extend their strategic alliance to 2021. The MOU solidifies both entities' dedication to growth and

China Cosco Sinks into Red

Photo: China COSCO Holdings Company Limted

 Dragged by lackluster freight rates in the maritime transport market during the first half of 2016, China Cosco Holdings logged a 7.2 billion yuan ($1.07 billion) net loss for the January-June half, down from the year-earlier profit of 2 billion yuan, reports Nikkei Asian Review.  

MN100: Shock Mitigation

John Haynes (Photo: Shock Mitigation)

The Company: The company provides marine organizations, boat builders and equipment manufacturers with relevant subject matter expertise plus an independent overview of how this sector is rapidly changing.  For OEM boat builders and equipment manufacturers

Lucas Marine, Harbor Breeze Cruises Partner to Cut Fuel Costs

Photo courtesy of Harbor Breeze Cruises

Lucas Marine is partnering with Harbor Breeze Corporation to help reduce the yacht charter and cruise company's fuel costs, maintenance and environmental impact in Los Angeles and Long Beach Harbors.   Harbor Breeze is one of the largest yacht charter and cruise companies operating within

MN100: CR Ocean Engineering, LLC

Nicholas Confuorto (Photo: CR Ocean Engineering)

The Company: CR Ocean Engineering LLC (also known as CROE) is a global leader in the design and supply of exhaust gas cleaning systems (scrubbers) offering a full range of systems customized to a client’s specific needs. With its installed base of more than 24

Vessel Design: A More Efficient Stern Trawler

Wärtsilä VS 6215 ST (Image: Wärtsilä)

A new stern trawler design from Wärtsilä aims to reduce fuel consumption and notably increase overall vessel efficiency.   Wärtsilä Ship Design’s new 82-meter-long Wärtsilä VS 6215 ST emphasizes seakeeping and stability and leverages a unique aft ship

Orient Overseas Hit with Loss

Photo: Orient Overseas Container Line (OOCL)

 The downturn in the container industry has taken a toll on the half-year results from Hong Kong-based Orient Overseas (International) Ltd, the parent of Orient Overseas Container Lines (OOCL).   OOCL turned to a $56.7m loss in the first half (for the six-month period ended 30th June

Specialists Team Up for International BWTS Refit

Solent Refit – aerial shot of Solent Refit at Hythe (Photo: Solent Refit)

U.K.-based Solent Refit and global marine equipment specialists Cathelco have teamed up to help international customers meet new ballast water management regulations.   Solent Refit, at Hythe, on Southampton Water, has built its reputation on maintaining and refitting classic and modern

Damen Optima Nozzle: A Boon for Inland Shippers

Flap rudder lowres Photo Damen

Damen Optima Nozzle is a big advantage for the North American inland shipping sector. The propeller nozzle developed and manufactured by Damen Shipyards Group's subsidiary Damen Marine Components (DMC) is suited for a wide spectrum of maritime uses and yields the most benefits for inland shipping

Volvo Penta’s IPS System a Boon to Ferries Operators

The Antares boat on the sea around the Amalfi coast. Photo Volvo Penta

A new passenger ferry, Antares, has been launched from the Italian city of Naples and is the first boat of its kind in the region to be installed with Volvo Penta’s ingenious Inboard Performance System (IPS). The installation of IPS 900 showcases Volvo Penta’s state-of-the-art

Jotun: ISO Hull Performance Standard Final Stage

Photo:  Jotun

 The ISO 19030 is finally nearing publication, in a move that has the potential to save the shipping industry as much as USD 30 billion in annual fuel costs.   It’s taken 12,000 hours of development work, involving 53 expert stakeholders, across more than three years

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