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 | 553.50 | 0.00 | 673.00 | 0.00 |
| Rotterdam | 514.50 | 0.00 | 651.00 | 0.00 |
| Houston | 545.00 | 0.00 | 671.00 | 0.00 |
| Fujairah | 543.00 | 0.00 | 747.00 | 0.00 |
| Global 20 Ports Average | 574.00 | 0.00 | 748.00 | 0.00 |
| Global 4 Ports Average | 539.00 | 0.00 | 685.50 | 0.00 |
| Global Average Bunker Price | 627.00 | 0.50 | 799.50 | 1.00 |
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