Neste: Vessel Speeds Still Not Optimal, Millions of Euros in Bunker Savings Still Available

Neste says vessels are still not travelling at optimum speeds

Although the shipping industry is now firmly in an era of slow streaming, Finalnd-based Neste Shipping Oy (Neste) says vessels are still not travelling at optimum speeds and the potential for "millions of Euros" in bunker savings are still available. 

"The emphasis has often been on schedules. Ships travel at higher speeds early in the journey to be sure of arriving in time, while the rest of the trip has gone slower. This is not the most economical way of moving," says Neste.

The tanker operator says it is tackling the problem by installing a system from Marorka, which monitors speed, fuel consumption, and the location of each vessel.

"We have conservatively calculated that we will achieve a saving of 3% in bunker fuel costs. However, the system can provide savings of 5–9%. Emissions will naturally decrease in proportion. Transport will not be only more efficient, but also environmentally friendlier," says Jacob Granqvist, operations manager at Neste Shipping.

"When you can see on the screen that the price of a new Audi was once again spent on fuel, it gives you a completely new perspective on fuel economy."

The Marorka system replaces the manual collection of approximate data, and under the new system flow meters providing accurate fuel consumption measurements at all times will be installed in the ships.

"The Marorka system will change the situation completely," says Neste.

The system will also reportedly help use a vessel's time in port more efficiently.

"On the Finnish coast, Neste uses small tankers that make approximately a hundred trips a year," the company says.

"A delay of one hour in every loading and unloading translates into 41 days a year in the company's fleet of five vessels. The additional expenses would run into millions of euros in a couple of years."

Neste originally announced the deal with Marorka in May.