World News
International Seaways Seeks 5% Bunker Savings From Wärtsilä Propulsion Upgrades
Shipping firm International Seaways is expecting up to 5% cuts in bunker consumption from propulsion system upgrades on four of its tankers.
Technology company Wärtsilä is set to retrofit the four MR tankers with its EnergoFlow and EnergoProFin propulsion systems, it said in an emailed statement.
The retrofits will coincide with scheduled dry-dockings of the vessels, starting this summer.
"As a company dedicated to supporting the marine industry's decarbonisation efforts, we are delighted to cooperate with International Seaways in improving the fuel efficiency of these four vessels," Jan Othman, vice president for project services at Wärtsilä Marine, said in the statement.
"The Wärtsilä systems selected will not only meet and exceed the minimum required CII rating and IMO targets, but will also improve the ships' asset resell market value."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 569.50 | 0.00 | 680.00 | 0.00 |
| Rotterdam | 515.00 | 1.00 | 674.00 | 2.00 |
| Houston | 550.00 | 2.50 | 678.00 | 6.50 |
| Fujairah | 560.50 | 0.50 | 753.50 | 2.50 |
| Global 20 Ports Average | 586.00 | 0.00 | 761.00 | 2.00 |
| Global 4 Ports Average | 549.00 | 1.00 | 696.50 | 2.00 |
| Global Average Bunker Price | 634.50 | 1.00 | 800.50 | 2.00 |
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