World News
Euronav Pleased with Energy-Saving Tech
Euronav NV (Euronav) [EBR:EURN] says it continued working to improve efficiency in its spot fleet during the first half of 2013.
According to finalised results, which update Euronav's previously released preliminary results for the first half of 2013, the company lost $39.3 million during the half on revenues of $202.6 million, compared with a loss of $20.0 million and revenues of $231.9 million in the same period last year.
Euronav reported that retrofitting vessels with a Mewis Duct to improve propeller efficiency has turned out to be one of best energy-saving improvements.
"In addition, electrical heaters are being installed across the fleet," the company said.
"These electrical fuel heaters provide substantial fuel and cost savings since they allow the heating of the fuel at a fraction of the cost than standard boilers when the ship is either idle or at slow steaming speed."
For the third quarter so far, Euronav reports that its very large crude carriers (VLCCs) operated in the Tankers International pool have earned on average $16,000 per day, down from $17,600 per day in H1, while its Suezmaxes on the spot market have earned $14,700 per day compared with $17,500 in the first half.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 502.00 | 4.50 | 617.00 | 5.50 |
| Rotterdam | 457.50 | 2.50 | 623.50 | 6.50 |
| Houston | 469.00 | 3.50 | 623.00 | 2.00 |
| Fujairah | 494.50 | 6.50 | 715.50 | 5.50 |
| Global 20 Ports Average | 526.00 | 3.00 | 712.50 | 11.50 |
| Global 4 Ports Average | 481.00 | 4.00 | 645.00 | 4.50 |
| Global Average Bunker Price | 569.00 | 2.00 | 750.00 | 5.50 |
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