At the beginning of this year, Stena Bulk initiated a project where traditional energy efficiency and reduced bunker fuel consumption were expanded by the addition of increased efficiency from a more commercial and operational perspective. The relationship between freight and bunker fuel will be maximised still further. Enhancing efficiency will also lower the environmental impact by reducing sulphur oxide emissions by around 1,400 metric tons in 2013.
Half of the $9.7 million in savings on an annual basis is considered to be related to technology and half to commercial and operational measures.
Stena said it operates a modern fleet where the performance of the new Suezmax tankers is the best in their class. Compared with vessels of the same type built only two-three years ago, bunker fuel consumption is 25% lower and compared with older tonnage from the end of the 1990s, it is as much as 40% lower.
The higher efficiency is mainly due to the vessels spending more of their time sailing at optimum speed, which is defined as being the most efficient speed for each individual vessel and voyage during the current fuel and freight market conditions. This has been achieved primarily by means of an energy budget for each vessel and voyage, which in turn has made it possible to monitor performance more efficiently and in greater detail together with ship optimization and increased awareness on board.