World News
New Ice Class Bulk Carrier Will Have a Dramatic Impact on Fuel Costs and Emissions
Pangaea Logistics Solutions Ltd (Pangaea) has announced the delivery of a new ice-class bulk carrier for subsidiary Nordic Bulk Carriers that it says will have a dramatic impact on fuel costs and emissions.
The 76,180 deadweight tonne ice-class Panamax dry bulker, Nordic Oshima, is to be used on the Northern Sea Route (NSR) and is currently completing a 60 day voyage from Japan to Finland, calling Vancouver en route.
The Nordic Oshima will be able to carry an additional 12,000 to 15,000 tonnes than a similar ship using the Panama Canal route meaning it offers fuel savings through economies of scale.
In addition, the ability to use the NSR means voyage distances will be shorter and lower Pangaea's fuel consumption.
"This voyage exemplifies what Nordic Bulk Carriers, a Pangaea Logistics Solutions company, does best.
"By traversing the NSR, instead of the traditional route through the Panama Canal, we are able to reduce emissions and our carbon footprint.
"At the same time we are generating better economy through reduced bunker fuel consumption and the ability to carry substantially greater cargo intake," said Ed Coll, Pangaea's CEO.
"Significant resources have gone into optimizing the design of the vessel to ensure superior economic performance and environmental safety, which is of the upmost importance in ice-class vessels," he continued.
Last year, Nordic Bulk Carriers made an historic voyage through the North West Passage.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.00 | 8.50 | 779.00 | 29.50 |
| Rotterdam | 608.00 | 11.00 | 764.50 | 24.50 |
| Houston | 636.50 | 8.00 | 807.50 | 5.00 |
| Fujairah | 649.50 | 4.00 | 888.50 | 11.50 |
| Global 20 Ports Average | 665.50 | 6.50 | 870.50 | 14.50 |
| Global 4 Ports Average | 635.50 | 3.50 | 810.00 | 17.50 |
| Global Average Bunker Price | 725.00 | 2.50 | 925.50 | 8.00 |
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