World News
More Slow Steaming for Maersk on Far East-North Europe Services: Report
Container line AP Moller-Maersk is set to use increased tonnage deployment on Far East-North Europe routes to decrease vessel speeds, according to shipping intelligence service Alphaliner.
The firm is set to redeploy surplus tonnage from its discontinued shared AE1/Shogun service with MSC to other Far East-North Europe services, Alphaliner said in its weekly newsletter.
That will allow Maersk to reduce vessel speeds on these routes, cutting bunker consumption and improving CII scores as the slower speeds optimise fuel efficiency.
Slow steaming is likely to come to the fore in container markets across the world this year to improve CII scores, now that falling freight rates make moving at faster speeds less profitable. This will play into lower overall bunker demand from the container segment.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 611.00 | 1.50 | 730.00 | 7.00 |
| Rotterdam | 557.50 | 1.00 | 718.50 | 2.00 |
| Houston | 576.00 | 1.00 | 750.50 | 2.50 |
| Fujairah | 608.50 | 2.50 | 829.00 | 2.00 |
| Global 20 Ports Average | 624.50 | 2.50 | 817.50 | 3.00 |
| Global 4 Ports Average | 588.50 | 0.50 | 757.00 | 2.50 |
| Global Average Bunker Price | 678.50 | 3.50 | 883.50 | 2.00 |
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