World News
Bunkers Account for 85% of VLCC Voyage Costs
Bunker fuel represents 85 percent of the voyage costs of Maersk Tankers' very large crude carriers (VLCCs), making "super slow steaming" a key to better earnings, Maritime Propulsion reports.
The company has reduced its VLCC's speeds to as little as 8.5 knots and has also retrofitted a Variable Turbine Inlet System (VTI) on the 318,000 deadweight-tonne Maersk Ingrid.
The VTI reduces the fuel consumption rate in the main engine during slow steaming for more efficient operations.
The Maersk Ingrid uses a VTI from Mitsubishi Heavy Industries, said to be the first time the system has been used as a retrofit solution.
Tests showed a 1.6 to 3.2 percent fuel consumption reduction from the VTI, and the manufacturers say the system should pay for itself quickly.
Maersk Tankers, a division of A.P. Moeller-Maersk, has been adopting a variety of fuel-saving retrofits in an effort to reduce its bunker costs.
The company has been using the Maersk Ingrid as a pilot case, allowing it to test a number of the design changes.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
Popular Now More
-
Nov 21CCO Christoffer Berg Lassen is stepping down from the company to be replaced by Anders Grønborg, while Peder Møller becomes its first chief operating officer. -
Nov 20The ISO 6853:2024 specifications, the first of their kind, cover the general requirements and properties for methanol specifically being used as marine fuel. -
Nov 21CTI-Maritec reports on undeclared quantities of cashew nut shell liquid found in VLSFO samples from Rotterdam and Singapore.