ShippingWatch

Benefits of new eco-ships undermined by falling oil price

The sliding oil price casts serious doubts on the benefits of the new eco-design vessels set to enter the market, especially in product tanker, in 2015.

2015 looks set to become the big year for new eco-design vessels delivered to the market, especially in the product tanker sector. A big part of the many newbuildings were ordered back in 2012, mainly from shipbuilders in South Korean and China and with financial backing from international private equity funds whose investments and entry into shipping will face its big test in the coming year.

But the massive decline in the oil price in recent months has cast serious doubts on the considerable benefits that - depending on whom one asks - are estimated to be in the range of USD 2,000 all the way up to USD 5,000 per day among the most optimistic for a new, fuel efficient eco-design vessel.

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