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.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
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

Maersk Product Tankers expects 2022 to be "not an amazing year"

There’s no doubt that 2021 was a miserable year for the global tanker industry. But 2022 could end up strong, many parties say. Maersk Product Tankers is more doubtful. ”2022 won’t be an amazing year,” CEO Christian M. Ingerslev tells ShippingWatch.

Researcher criticizes TotalEnergies' fuel report

TotalEnergies ignores shipping’s climate adaptions in the company’s prognosis for shipping’s future fuel consumption, researcher says in criticism. Among other things, TotalEnergies supports LNG.

OOCL doubles revenue despite significant drop in volumes

Container line OOCL, owned by China’s Cosco, doubled its revenue in 2021, with the top line for Q4 alone surging by 101.4 percent, the carrier says. This major increase happens despite a dive in container liftings during the quarter.

Further reading

Related articles

Latest news

See all jobs