World News
Fuel Additive Firm Wins APL Deal
Neftech Pte Ltd., a subsidiary of China Auto Corporation (CAC), says it will treat the auxiliary engines of up to 50 American President Lines (APL) container ships with nano particle additives to reduce fuel consumption, according to a press release printed by Businessweek.com.
The five-year agreement involves regular treatments with additives for each engine.
Naftech said APL has conducted six months of field tests of the technology on one of its containerships with savings surpassing expectations at more than 10 percent.
"Ten per cent may not sound like a lot but when it comes to fuel savings for the shipping industry, it is a lot of money," Neftech chairman Victor Levin told Business Times.
"We hope our deal with APL will open doors for us."
The nano particle technology is designed to reduce friction through the engine oil, and it can be used alongside Neftech's water emulsion technology, which works directly on the fuel to make it burn more efficiently.
Neftech said it has already installed water emulsion plants on seven container ships from three companies and is in the process of adding more.
According to the company's website, the water emulsion technology can save 7.6 percent on main engines and 8.6 percent on auxiliary engines on a 2,600 twenty-foot-equivalent-unit (TEU) ship.
APL, the container shipping line of Singapore based Neptune Orient Lines Limited (NOL) [SGX:N03], has credited reductions in fuel consumption with an improved bottom line, and it said in September that new ships it is ordering will be 20 percent more fuel efficient than their predecessors.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 655.50 | 2.00 | 808.50 | 4.50 |
| Rotterdam | 619.00 | 0.00 | 789.00 | 8.00 |
| Houston | 628.50 | 7.50 | 812.50 | 1.50 |
| Fujairah | 653.50 | 4.50 | 900.00 | 2.50 |
| Global 20 Ports Average | 672.00 | 0.50 | 885.00 | 7.00 |
| Global 4 Ports Average | 639.00 | 2.50 | 827.50 | 2.00 |
| Global Average Bunker Price | 727.50 | 1.50 | 933.50 | 5.00 |
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