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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


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


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


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


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.


Irish Ferries Rejects Labor Court Ruling

According to an AP report, Irish Ferries PLC rejected an Irish Labor Court recommendation and plans to continue with widely criticized plans to replace more than 500 employees with cheaper workers from Eastern Europe. The struggling operator of car ferries between Ireland, Britain and France did not accept the court's nonbinding ruling, which called on Irish Ferries to honor its 2004 wage-pact agreement with the two labor unions involved.


Which way will container freight rates go? Carriers at crossroads, says Drewry

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New Drewry special report examines drivers of container freight rates, provides five year forecasts of major east-west trades and offers suggestions for carriers and shippers on how to smooth pricing volatility. London, UK, 14th March 2011 – Container freight rates go up and then they go down - that’s just the way things are. This almost pathological acceptance that things cannot and will not change is a symptom of a deficiency within container shipping’s DNA that prevents


Hydrogen Fuel Cells May Power Seaports

Sandia National Laboratories researcher Joe Pratt stands near the Port of Oakland, one of the west coast ports he studied to learn whether hydrogen fuel cells are a viable power source for docked ships. (Photo by Steffan Schulz)

Providing auxiliary hydrogen power to docked or anchored ships may soon be added to the list of ways in which hydrogen fuel cells can provide efficient, emissions-free energy. Hydrogen fuel cells are already powering mobile lighting systems, forklifts, emergency backup systems and light-duty trucks, among other applications. Now, researchers at Sandia National Laboratories have found that hydrogen fuel cells may be both technically feasible and commercially attractive as a clean


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


INTERTANKO Launches ECA Bunker Surcharge Clauses

Photo: Teekay Tankers

INTERTANKO’s documentary committee has launched bunker surcharge clauses for Emission Control Areas (ECA).   Rising bunker prices due to rising oil prices and volatility in global politics can have a dramatic effect on trade as they fluctuate not just day to day, but also port to port


K Line to Expand Use of Eco-efficiency Software

Photo: K Line

Three further K Line vessels to install ClassNK-NAPA GREEN eco-efficiency software after reporting fuel savings during trials on an 8,600 TEU container vessel   NAPA and ClassNK announced a deal with Kawasaki Kisen Kaisha Ltd. (K Line) to install an eco-efficiency and operational


Teekay Tankers to Acquire 5 Tankers

Kevin Mackay, Chief Executive Officer of Teekay Tankers

   Teekay Tankers Ltd. announced that it will acquire four coated Aframax tankers and one uncoated Aframax tanker for an aggregate purchase price of approximately $230 million. The five vessels, which are expected to be delivered in the first quarter of 2015, were constructed in 2008


Damen Shipyards Galati wins Dutch Romanian Award

Dutch Romanian Business Award 2014 lowres

  Damen Shipyards Galati has been presented with the Dutch Romanian Business Award for its Corporate Social Responsibility plan, particularly the Group’s community investment initiatives. The Award was presented by Ben Jager of the Dutch Romanian Network to Peter de Kiewit


Sustainability Report: Carnival Ahead of Emissions Goal

Photo: Carnival

Carnival Corporation & plc released a report today detailing its sustainability efforts, including initiatives which enabled the company to meet its corporate goal to reduce its rate of CO2 emissions from shipboard operations by 20 percent, a year ahead of its initial plan


Maersk to Introduce Low Sulphur Surcharge

Low Sulphur Surcharge

  To offset the additional cost incurred by switching to cleaner fuels in Emission Control Areas, as required by the new regulation, Maersk Line will introduce a new Low Sulphur Surcharge (LSS). The surcharge will be effective from 1 January 2015 and affect all cargo with load port


Cost to Fuel Ships Falls

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For a ship that burns 24 tonnes of fuel per day while steaming, fuel costs are reduced by as much as $1 million a year if current price level stay put. Assuming a difference from the average of first half of 2014 at $578 for 380 cSt, High Sulphur Fuel Oil (HSFO) in Rotterdam, to a new level of $412


US Orders Trawler with Common-Rail Technology

Graphical rendering of the ST-116 XL design for ‘America’s Finest’ (courtesy Skipsteknisk)

Tier II-compliant 32/44CR technology to deliver fuel efficiency, low emissions and improved productivity   MAN Diesel & Turbo has received an order for an MAN 8L32/44CR engine to power a newbuilding trawler for Fishermen’s Finest, the U.S. fishing concern


Asian Airlines Pause Before Hedging on Fuel

Oil fell to four-year low of $72 on Thursday; Airlines hope the price will slip below $70 a barrel. Airlines in Asia-Pacific are holding off from hedging their fuel costs as they wait for oil to dip below $70 a barrel in hopes of securing lower prices, industry executives said on Friday.


Ships Must Prepare for Sulphur Rules

Simon Bennett

The shipping industry is fully committed to total compliance with the 0.1% sulphur in fuel requirements, in Emission Control Areas, from January 2015.  And there is no reason to suggest that there will not be full compliance, says the industry’s global trade association


DNV GL Gas Ready Notation

DNV GL’s new GAS READY notation provides a clear picture of the level of LNG fuelled preparedness of a vessel.

With the IGF Code practically finalized, the introduction of sulphur limits and burgeoning infrastructure and production capability, LNG as a ship fuel is spreading rapidly through the maritime world.   DNV GL’s new GAS READY notation gives owners


Successful Sea Trials of S4 Waterjets

Photo courtesy of Rolls-Royce

Rolls-Royce has successfully completed seatrials of its first S4 series of waterjets, designed to give higher efficiency at lower speeds.   The trials aboard the recently upgraded Tangalooma Jet, a 350 passenger-carrying high-speed catamaran


Triad, EMP Join Forces

Medaka Eco Solar Ferry

As part of its product rollout strategy Eco Marine Power (EMP) announced today that it has signed a support agreement with Theodosiou Bros Ltd (TRIAD Ltd) of Piraeus, Greece. This agreement between EMP and TRIAD Ltd will lead to the establishment of a technical support hub in Greece from


Maersk, Hamburg Sud Lead Reliability Rankings

Aggregate Schedule Reliability of Top 20 Container Carriers, Source: Drewry’s Carrier Performance Insight

Maersk Line and Hamburg Sud are ranked as the two most reliable container shipping carriers, according to performance rankings published in the new online version of the Carrier Performance Insight (http://cpi.drewry.co.uk) published by shipping consultancy Drewry.


Overtonnage, Regulations Bruise Shippers' Confidence

Richard Greiner

 Overall confidence levels in the shipping industry fell during the three months to November 2014 to their lowest level for two years, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens






 
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