Persistent High Oil Prices News

As persistent high oil prices and the burden of increased regulatory compliance have rendered energy management strategy development crucial for fleet owners worldwide, the shipping industry is on the verge of a new frontier where novel concepts and sophisticated approaches to ship design and performance verification methods emerge. The world’s major ship building nations agree that a combination of a stubborn global recession and high fuel prices which affect global trade and impact newbuilding orders require innovative thinking, creative strategies and investments in R&D to create the foundations for a new generation of shipping infrastructure which will be more resilient to fluctuating heavy fuel prices and more adaptable to alternative forms of energy.