Will lower oil prices make carriers ditch slow-steaming?

Slow-steaming has been a much-used tool for container carriers during the crisis, but could the declining prices on crude as well as bunker oil make carriers speed up, asks Drewry in a new analysis.
Photo: Hanjin
Photo: Hanjin
BY KATRINE GRØNVALD RAUN

The massive decline in the crude oil price is in some ways good news for carriers, who will at least be able to save money on their biggest expense - bunker. The question the becomes whether the lower oil prices will make carriers speed up their container ships again, thus ditching slow-steaming, which has otherwise been a good tool in a time with low rates and far too many ships, says analysts Drewry in a new analysis.

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