Knowledge is Power
World crude production may rise and fall, but the historical trend shows a steady increase in the price of a barrel of oil, and with it, the price of a ton of fuel. Add the demands of shareholders and charterers to increase operational efficiency and profitability, as well as increasing international pressure to reduce fuel consumption and associated greenhouse gas emissions. It is no wonder that ship owners have seen a steady rise, as well, in the availability of technologies — from ship design to propulsion and HVAC systems to hull coatings — that are purported to reduce fuel consumption.
German Shipping Transport & Emission Costs on Summit Agenda
A 'Creating Climate Wealth Summit Germany' hosted by Carbon War Room aims to accelerate clean technology adoption. Over 90 percent of the world’s trade cargo spends time on the ocean during its journey to market, carried by any one of approximately 60,000 active commercial vessels. Although the shipping industry, relative to other freight modes, is already very energy efficient, the widespread adoption of additional market-scale clean technologies which improve hull, engine and propeller design will produce further reductions in fuel consumption. With the global financial slowdown and increasing fuel prices precipitating a restructuring of resources across the shipping industry…
