Eco-Tankers Earn the Highest Profits, But Only Just

by Ship & Bunker News Team
Tuesday October 29, 2013

Scorpio Tankers Inc. [NYSE:STNG] (Scorpio Tankers)'s medium range (MR) eco-tankers are the most profitable ships of their kind in the global fleet, but they outperform certain other operators' non-eco design vessels only slightly, industry news site ShippingWatch reports.

The site surveyed the daily earnings (TCE) of several of the biggest product tank carriers and found that Scorpio achieved an average of about $18,000 in the first half of 2013, while TORM, which does not have eco-design vessels, made an average of $17,060 in the second quarter.

Hafnia Management's TCE was $16,700, comparable to Ardmore Shipping's eco-fleet but well above the non-eco ships Ardmore operates, which achieved only $13,603 in the first half of the year.

d'Amico had a TCE of $14,150, compared with $15,798 for Norden and $14,900 for TeeKay.

Ship broker Clarkson put the industry average at $15,450.

ShippingWatch said the value of eco ships, which some supporters say can save $3,000 to $4,000 per day, will depend on the market in coming years.

Maersk Tankers Commercial Director Klaus Rud Sejling has said that a daily rate of $14,000 is much too low to recoup a $35 million to $50 million investment in a new eco-ship.

Scorpio Tankers has ordered dozens of new eco-tankers over the past year and has sought financing for even more ships.

Large tanker operator Euronav recently said that retrofits can offer the same benefits as eco-newbuilds at a fraction of the cost.

Ship & Bunker News Team
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