World News
CKYHE Alliance Looking to Reduce Bunker Consumption
Taiwan's Evergreen Marine Corp. (Evergreen) says effective March 1, 2014 it has agreed to join the CKYH alliance of shipping lines.
To be operational only on the trades between Asia and Europe, including the Mediterranean region, the new alliance between COSCO, K Line, Yangming, and Hanjin will be called the CKYHE Alliance.
Evergreen said the goals of the alliance include continuing to pursue measures to minimise bunker consumption via "eco-slow steaming' and to reduce CO2 emissions.
CKYHE will commence operations in mid April with six joint services operating between Asia and Northern Europe and four loops dedicated to the Asia-Mediterranean route.
Evergreen said in January it was looking to replace its older, less fuel efficient vessels.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 634.00 | 10.50 | 747.00 | 35.00 |
| Rotterdam | 574.00 | 16.00 | 738.50 | 12.00 |
| Houston | 595.50 | 13.00 | 762.50 | 14.50 |
| Fujairah | 624.50 | 18.50 | 867.50 | 24.00 |
| Global 20 Ports Average | 645.00 | 13.50 | 832.00 | 16.50 |
| Global 4 Ports Average | 607.00 | 14.50 | 779.00 | 21.50 |
| Global Average Bunker Price | 707.50 | 5.50 | 892.00 | 2.00 |
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