EMEA News
Study: Barging Costs to Decline in Inland Europe in 2015
Barge transport in inland Europe is looking to be even cheaper in 2015 than it was in 2014, according to a study released by Dutch research and consulting company Panteia.
The organization released figures showing overall costs decreased up to 2.8 percent between 2013 and 2014 due to lower capital interest rates and the decrease in fuel prices from crude oil’s slump at the end of the year.
Panteia said that trend will likely continue into 2015 because of the same factors, and predicts a decline between 8.9 percent and 2.4 percent in overall operating costs, depending on the ship and trip taken.
The weight of crude’s price slide will also continue to be reflected on fuel prices, with the organization forecasting a further 18.2 percent drop in prices over the next year.
However, the group warned that the estimate may be uncertain, especially as the global oil market remains volatile.
Prior to oil’s fall, it was assumed that operating costs would increase in inland Europe due to Emission Control Areas (ECA), which imposes sulfur limits that would require the use of more expensive compliant marine fuel.
However, late last year it was reported that falling bunker prices have been helping the shipping industry save $117 million per day.
