World News
New Service Offers "Sneak Peak" of Potential IMO 2020 Bunker Fuel Savings
With the industry set for a significant increase in bunker costs when the global 0.50% sulfur cap on marine fuel comes into force on January 1, 2020, hull and propeller performance specialists Propulsion Dynamics says its new Inferred Fuel Performance service could be a key step to reducing fuel costs ahead of the new rules.
"Inferred Fuel Performance takes vetting to a new level. It allows the chartering department to have a clear insight of the likely fuel performance of a vessel, based on our database of performance analysis, before chartering-in a vessel," says Daniel Kane, Vice President of Propulsion Dynamics' CASPER Service.
A key feature of the service is it requires no sea trial or noon reports to infer the fuel performance of a vessel.
"Through the ship's unique IMO number we are able to locate ships of similar dimensions in our CASPER database, we then take the hydrodynamic correction factors for those ships with similar dimensions and estimate clean ship performance found from trials," says Kane.
"By considering such factors as the age of the ship, time out of dock, [AIS-based] service patterns and prior hull/propeller treatments – in dock and in water maintenance if available – we are able to assign a likely added resistance to the ship. This added resistance factor allows us to create likely fuel performance curves corrected for multiple sea states, draft and speed regimes."
Propulsion Dynamics will be at SMM 2018 (Hall A5.201) offering more information on Inferred Fuel Performance and its CASPER Service.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 502.00 | 7.00 | 617.00 | 6.00 |
| Rotterdam | 455.00 | 8.00 | 619.50 | 4.00 |
| Houston | 467.00 | 4.50 | 625.00 | 2.50 |
| Fujairah | 495.00 | 6.00 | 712.50 | 1.50 |
| Global 20 Ports Average | 524.50 | 4.50 | 710.50 | 4.00 |
| Global 4 Ports Average | 479.50 | 6.50 | 643.50 | 3.50 |
| Global Average Bunker Price | 570.50 | 2.00 | 747.50 | 5.50 |
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