World News
EU Study Highlights NOx Emissions Reduction from Slow Steaming
A new report released by the European Commission (EC) has highlighted that not only does slow steaming lower fuel consumption, it reduces nitrogen oxides (NOx) emissions.
During the study period from 2005 to 2012, NOx emissions were said to have increased in correlation with world trade growth, about 15 percent from 2005 to 2008, then fell by a significant 12 percent during the global economic crisis from 2008 to 2009.
Further, the EC findings show that the ships continued to travel at these reduced speeds, about 30 percent of their speed in 2005, until about 2012.
"These results indicate that the shipping industry has widely adopted and continued to
operate the voluntary practice of slow steaming since 2008/2009," states the EC report.
"Nevertheless, due to the steadily decreasing land emissions as a result of national and EU emission control policies, ship NOx emissions as a share of total European NOx emissions from all sources, including land-based emissions, has risen from 11 percent in 2005 to 14 percent in 2012."
As a result, the report asserts that even though the shipping industry's NOx emissions have been reduced through slow steaming practices, it expects the overall global share of NOx emissions attributable to the industry to continue to grow unless curbed by regulation and monitoring support.
In January, Maersk Line said it would not stop slow-steaming despite the falling bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 623.50 | 0.00 | 723.50 | 3.00 |
| Rotterdam | 568.00 | 2.00 | 741.50 | 4.50 |
| Houston | 595.50 | 10.50 | 765.50 | 15.50 |
| Fujairah | 628.50 | 0.50 | 874.50 | 6.50 |
| Global 20 Ports Average | 637.00 | 1.00 | 816.00 | 0.50 |
| Global 4 Ports Average | 604.00 | 3.50 | 776.50 | 3.00 |
| Global Average Bunker Price | 690.50 | 0.50 | 878.00 | 1.50 |
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