World News
More Carrier Lines Signal End to Slow Steaming
Statements from a number of container lines regarding improved transit times may be a signal that an end to slow-steaming could be on the horizon, TheLoadStar reports.
Both U.S -based APL and Israel-based Zim have reportedly released such statements, with APL President Kenneth Glenn having reportedly said that "whether it is shipment to the U.S. west coast or its inland destinations, time-sensitive shippers can now take advantage of superior transit times and on-time assurance" on the company's new Eagle Express transpacific service.
Zim also reportedly said that it was offering "improved transit times" on its route between Eastern Mediterranean and Northern Europe.
Slow-steaming was originally phased in among many carrier lines in response to overcapacity in the industry, though cheaper bunkers for much of the year have made it more economically feasible to speed up ships.
However, Ship & Bunker reported that several major shipping lines, including Maersk Line, had come on record saying that they would never phase out slow-steaming as it would necessitate a labourious change in its network.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 559.50 | 6.00 | 655.00 | 6.50 |
| Rotterdam | 512.00 | 2.00 | 663.00 | 2.00 |
| Houston | 543.50 | 4.50 | 661.00 | 5.50 |
| Fujairah | 557.50 | 2.00 | 746.00 | 0.00 |
| Global 20 Ports Average | 582.50 | 0.00 | 753.00 | 0.00 |
| Global 4 Ports Average | 543.00 | 1.50 | 681.50 | 2.00 |
| Global Average Bunker Price | 630.50 | 0.50 | 793.00 | 10.50 |
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