World News
Large, Fuel-Savings Ships Key to APL Cost Cuts
Shipping line APL says it is reorganising its structure to improve competitiveness in a challenging market.
"The container shipping industry is undergoing profound changes, characterized by low growth and intense competition," said President Kenneth Glenn.
"We recognize there is a need for APL to respond more quickly to the market and to our customers."
Glenn said the company has already reduced its costs with large, fuel-efficient ships and through operational efficiencies and a shift away from chartered tonnage.
The new structure focuses on functions rather than geographies, eliminating the roles of regional and country leads and replacing them with commercial and operations functional leads.
Effective, February 10, Peter Jongepier will serve as Chief Commercial Officer, Calvin Leong will be Chief Trade Officer, Nathaniel Seeds will become Chief Operations Officer, and Jason Wong will be Chief Procurement Officer.
APL has said that improving fuel efficiency and reducing emissions are major goals for the company.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 596.50 | 0.50 | 688.00 | 1.00 |
| Rotterdam | 523.00 | 2.50 | 677.00 | 1.00 |
| Houston | 550.50 | 0.00 | 676.50 | 8.00 |
| Fujairah | 582.00 | 2.50 | 758.50 | 5.50 |
| Global 20 Ports Average | 599.50 | 0.50 | 757.50 | 2.00 |
| Global 4 Ports Average | 563.00 | 1.50 | 700.00 | 4.00 |
| Global Average Bunker Price | 644.50 | 1.50 | 813.50 | 0.50 |
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