EMEA News
Maersk Line to Continue Slow Steaming Efforts, Despite Reduced Benefits
Friday October 24, 2014
Maersk Line will continue slow steaming aboard its ships despite plunging bunker prices that have narrowed the financial benefits of doing so, reports ShippingWatch.
The company rejected speculations of speeding up ships to their design speeds, although analysts have pointed out that using more fuel would be to their advantage since oil prices are so low.
"Slow steaming is and will remain part of our toolbox, both in relation to capacity management and cost reduction efforts, not least in terms of fuel" said Michael Christian Storgaard, senior press officer at Maersk Line.
Drewry said in a report earlier this week that containerships may be refraining from speeding up due to the fear of flooding the market with latent capacity.
