15/09/2014at 12:46

Carriers have saved 10 percent on oil in 2014

The oil price has reached a two-year low. Vessels have saved around 10 percent on fuel oil in 2014, according to oil analyst Michael Poulsen of Global Risk Management.

BY OLE ANDERSEN

The oil price has dropped to a two-year low, with a current Brent oil (North Sea oil) price of USD 96.4 per barrel, compared to around USD 115 earlier this year. The declining oil price in 2014 results in carriers saving approximately 10 percent on ship fuel, according to oil analyst Michael Poulsen, Global Risk Management.

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