SeaIntel: Farewell to slow steaming with oil price of USD 50

Today's news that the oil price has now dropped below USD 50 for the first time in five years comes as bad news to the container industry. CEO and partner of SeaIntel, Lars Jensen, expects that several major alliances will increase their speed unless the price changes in the coming months.

BY TOMAS KRISTIANSEN

An oil price that has now dropped below USD 50 per barrel means that the best argument for slow steaming disappears, namely saving a lot of money. Because in recent years, the more carriers have slow steamed, the more money they have saved. And as time passes, CEO and partner at SeaIntel, Lars Jensen, estimates that one or several of the four major container alliances set to fight for the market in 2015 will increase their speed in the efforts to win customers.

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SeaIntel: Farewell to slow steaming with oil price of USD 50

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Front page now

Maritime & Merchant notes fierce competition in loans for shipping

Packed container ships trigger surge in air freight demand

14 arrested at demonstration in front of Maersk headquarters

Norwegian car carriers bag multi-year contracts

IMO's fossil fuel ban in the Arctic faces criticism

Record influx of container ships this year will not cause trouble until 2025

Cosco and CMA CGM expect further pressure on major European ports

Kuehne+Nagel triggers unrest among staff with new management structure

Dry bulk players dismiss green fuels in favor of low-hanging fruits

Less than one percent of the container fleet is currently idle

Congestion in Asian ports is now as bad as during Covid

Analysis: Capesizes have become too expensive despite strong market

Further reading

Kuehne+Nagel triggers unrest among staff with new management structure

Cosco and CMA CGM expect further pressure on major European ports

Congestion in Asian ports is now as bad as during Covid

Less than one percent of the container fleet is currently idle

Dry bulk players dismiss green fuels in favor of low-hanging fruits

Analysis: Capesizes have become too expensive despite strong market

Jobs