World News
Wallenius Wilhelmsen Announces Plans to Mitigate Pandemic Disruption
Friday April 3, 2020
Ro-ro shipping company Wallenius Wilhemsen has announced the measures it is putting in place to reduce costs in the face of the COVID-19 pandemic cutting demand for shipping.
The company has cut spending by $20 million with the cancellation of four scrubber installations, it said in an investor presentation this week.
It also plans to pursue "tighter bunker inventory management" this year, the company said, as well as adjusting the speed and sailing schedules of its vessels and idling some of them.
Up to four of the company's vessels will be targeted for early recycling, it said, with a potential positive cash impact of $4-7 million per ship.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 548.00 | 0.50 | 677.50 | 2.00 |
| Rotterdam | 513.00 | 0.50 | 649.00 | 3.00 |
| Houston | 544.50 | 2.50 | 675.00 | 4.00 |
| Fujairah | 541.50 | 2.50 | 744.00 | 3.50 |
| Global 20 Ports Average | 572.00 | 2.50 | 758.00 | 2.50 |
| Global 4 Ports Average | 536.50 | 1.50 | 686.50 | 3.00 |
| Global Average Bunker Price | 624.00 | 2.50 | 801.00 | 3.50 |
Popular Now More
-
Dec 23The company carried out worldwide marine fuel trading from offices in Singapore. -
Dec 232024's total is heading for a 3.4% gain from 2023 and the highest level since 2019, according to the latest market survey from Ship & Bunker and 2050 Marine Energy. -
Dec 23"We're being ripped off at the Panama Canal like we're being ripped off everywhere else," President Trump was cited as saying at an event in Arizona on Sunday.