Improving Freight Rates May Help Shippers Cope With Fuel Costs

Wednesday, September 29, 1999
The shipping industry is in a better position to cope with soaring fuel prices because of growth in trade as Asia recovers economic crisis, analysts said. The price of bunker fuel, which typically makes up about five percent of a shippers' total operating costs, has over the past six months doubled to $140 per ton. The spoils from improved conditions have not been evenly shared within the industry, with tanker owners the worst hit. Three global-pacts among oil producers to cut output and shore up prices have had a negative effect on tanker owners who now face higher bunker costs and lower shipping volumes. However, experts said, fuel cost is only a major issue if freight rates are on a decreasing trend, but with rates on a recovery, the impact on shippers will be lessened.
Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Sjo Resigns from Polarcus Board of Directors

Polarcus Limited announced that Hege Sjo will resign from its board of directors effective February 2, 2015.   Sjo has accepted an appointment as Deputy Director

BOEM Issues Supplemental Environmental Impact Statement

The U.S. Department of the Interior, Bureau of Ocean Energy Management (BOEM), announces the availability of the Draft Supplemental Environmental Impact Statement

Europe's Offshore Wind Capacity Growing

New capacity edges down 5 pct from record 2013; industry body forecasts stable growth over 2015/6. Europe's offshore wind capacity kept up a steady rate of growth

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Navigation Offshore Oil Pipelines Pod Propulsion Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0858 sec (12 req/sec)