World News
OceanScore Sees Red Sea Diversions Tripling EU-ETS Compliance Costs
Ships avoiding the Red Sea in the wake of recent attacks on commercial shipping may be tripling their bunker consumption and EU-ETS compliance costs, according to maritime software provider OceanScore.
The Hamburg-based firm has calculated the extra costs based on an average speed increase of about 25%, on top of the increased bunker consumption from the longer voyage length, it said in an emailed statement on Tuesday.
Based on a 14,000 TEU boxship, the firm sees EUA costs rising from €98,000 to €285,000 per voyage this year, or €18 per TEU.
"We have observed increased speeds to compensate for at least some of the longer distance – to keep sailing times and the need for additional tonnage to be deployed at acceptable levels – and this has an inevitable impact on fuel consumption and emissions," Albrecht Grell, co-managing director at OceanScore, said in the statement.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.00 | 0.50 | 775.00 | 3.50 |
| Rotterdam | 603.50 | 1.50 | 759.50 | 11.50 |
| Houston | 626.50 | 2.50 | 794.00 | 2.00 |
| Fujairah | 649.00 | 0.50 | 904.50 | 6.50 |
| Global 20 Ports Average | 664.00 | 2.00 | 855.00 | 0.00 |
| Global 4 Ports Average | 632.00 | 1.00 | 808.00 | 4.00 |
| Global Average Bunker Price | 716.50 | 1.00 | 901.00 | 12.50 |
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