World News
Brightoil: Shipowners Can Not Afford Low-Sulfur Fuels
Per Wistoft, CEO of Brightoil Shipping Singapore, has said that Shipowners can not afford low sulfur fuels, and the push to "go green" is only putting I
"Nobody can afford to buy low-sulphur fuels now," said Wistoft speaking at last week's Sea Asia 2013 conference in Singapore.
Wistoft said he also believed that efforts by the International Maritime Organisation (IMO) to "green" the shipping industry have been somewhat untimely.
Rather, if the planned phase in of lower sulfur limits for bunker fuel in 2015 and beyond were imposed five years ago, before current downturn in the shipping industry, he argued that the financial impact on ship owners and operators would have been less.
Wistoft also warned against the claimed benefits of so-called "ecoships," saying that they were "just a marketing tool by shipyards to sell ships."
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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