ShippingWatch

Oil price plunge is not all bad news for container lines and tankers

The oil price collapse and the coronavirus give container lines an unexpected edge in their efforts to offload major additional fuel costs with customers. The situation has also put tankers in a favorable position.

Photo: Edgar Su/Reuters/Ritzau Scanpix

At a time when container lines are struggling to send the high extra cost of new fuels down the line to customers, the oil price collapse comes as a welcome helping hand.

Since the turn of the year, the price of the new low-sulfur fuels ships are obligated to sail on has soared.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Oil service firm loses nearly USD 60 million in three months

Norway's PGS still suffers under the Covid-19-stricken oil market, delivering yet another financial report with enormous red figures on the bottom line. The deficit is smaller than in Q3 2020, however, when PGS lost more than a quarter billion dollars.

IKEA sustainability manager: Green solutions should not cost more

As a starting point, furniture giant Ikea won't accept that green solutions become more expensive than polluting solutions, says Elisabeth Munck af Rosenschöld, Global Sustainability Manager for Supply Chain Operations, to ShippingWatch. Ikea is part of an alliance of global companies that calls for green shipping by 2040.

Further reading

Related articles

Trial banner

Latest news

See all jobs