World News
Bunker Consumption "Vastly Different" Between Ships of Similar Designs
Shippers could be paying as much as five times more in bunker costs than their competitors, even through they are using vessels of a similar design, according to a new report.
"Ship efficiency varies widely based on design, fuel and power sources, and operations," according to The New Climate Economy report.
"Even ships with similar designs can operate with vastly different efficiencies. The most efficient crude oil tanker is about one-fifth as fuel-intensive as the least efficient."
The reported noted that the key drivers of operational efficiency are speed and utilisation rate, with fully loaded ships being the most efficient.
"A 10% slower speed reduces fuel use per hour by 27%," according to the report.
Despite the findings the report highlighted that the industry faced a "significant challenge" in that reliable data on operational efficiency is scarce.
The report also said improving vessel efficiency could save $200 billion in bunker costs by 2035.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 625.00 | 9.00 | 732.00 | 15.00 |
| Rotterdam | 577.50 | 3.50 | 739.50 | 1.00 |
| Houston | 595.00 | 0.50 | 767.00 | 4.50 |
| Fujairah | 628.50 | 4.00 | 878.50 | 11.00 |
| Global 20 Ports Average | 645.50 | 0.50 | 827.00 | 5.00 |
| Global 4 Ports Average | 606.50 | 0.50 | 779.50 | 0.50 |
| Global Average Bunker Price | 703.50 | 4.00 | 886.00 | 6.00 |
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