World News
Alphaliner: Slow Steaming Keeps 7% of Global Fleet Employed
According to Alphaliner, slow steaming keeps 1.3 million TEU employed, the equivalent of 7 percent of the global container fleet capacity, ShippingWatch reports.
"Since 2009, carriers have been using slow steaming as one of their key cost reduction tools," shipping newsletter Alphaliner said in a report.
"And when the oil price reached a record-high level in early 2012 - at more than USD 700 per ton for IFO 380 - carriers began using extra slow steaming and super slow steaming as 2nd and 3rd alternatives in their efforts to reduce fuel costs."
Alphaliner data currently shows that a ship's costs can be reduced by increasing speed moderately if the price drops to less than $400 per ton.
A report from Drewry earlier this week also said that containerships are unlikely to speed up any time soon for fear of flooding the market with latent capacity.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.00 | 6.00 | 762.00 | 5.50 |
| Rotterdam | 599.00 | 1.00 | 751.00 | 0.50 |
| Houston | 618.00 | 11.50 | 802.50 | 6.50 |
| Fujairah | 642.00 | 5.50 | 883.50 | 5.50 |
| Global 20 Ports Average | 661.50 | 3.50 | 859.00 | 5.00 |
| Global 4 Ports Average | 629.50 | 1.00 | 799.50 | 1.50 |
| Global Average Bunker Price | 719.00 | 3.50 | 915.00 | 7.50 |
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