Bunker price was the death of slow steaming in 2015
The extremely low bunker price has meant the end for slow steaming. The dry bulk carrier Ultrabulk has increased speeds by 10-15 percent in 2015 in line with other industry players. According to Maersk Line, the savings options in slow steaming have been exhausted.
BY TOMAS KRISTIANSEN
Although the bunker price plummeted to a level between USD 120 and 150 per ton over the course of 2015, and reduced the shipping industry's biggest single expense significantly, the historically low price has seemingly also meant the death of slow steaming. At least in the bunker industry which is currently in the midst of the worst crisis ever, with a dry bulk index that just last week set four new record lows ending at 429 on Friday.
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