Fuel surcharges that are being introduced to pass the cost of 2020 compliance to the customer could be reduced by making use of technologies that optimise fuel consumption, claims FuelSave.
Maersk and Mediterranean Shipping Company are two companies that announced earlier this year that they are implementing emergency bunker surcharges to combat the increasing price of fuel. Last week Maersk announced a new bunker adjustment surcharge (BAS) that aims to cover an estimated increase of US $2 billion in shipping costs, driven by rising fuel prices.
Marc Sima, president and co-founder of Germany’s FuelSave believes bunker surcharges cost could be reduced by optimising fuel consumption. He said: “It has been reported that 2020 compliance could cost the container shipping sector in excess of $15 billion, but these costs can be slashed by optimising fuel consumption.”
Mr Sima added: “The fuel surcharges some container shipping companies are intending to pass on to customers as they look to meet the 2020 sulphur cap could be reduced for the mutual benefit of shipowners and operators, as well as their customers, given the technologies available for reducing fuel consumption.”
“With a 10 per cent reduction in fuel consumption, ship operators could reduce fuel surcharges and maintain or even increase profitability, leveraging the potential of sustainable efficiency enhancement solutions that are beneficial to both shipowner and shipper.”
“As more shipping companies go down the scrubber route we are seeing manufacturers raise their prices – in some cases charging more than US$3 million for the scrubber alone. This is putting pressure on shipowners to pass on these costs to shippers, which is unnecessary when our solution can provide any scrubber installation with a good return.”
According to FuelSave, its FS Marine+ system can reduce fuel consumption by 25 per cent equating to net savings of 16 per cent and a significant reduction in CO2 and NOx emissions and particulate matter (PM).
Mr Sima also believes that shipowners that choose low sulphur fuel oil (LSFO) for 2020 compliance over scrubbers will benefit even more from fuel optimisation as these fuels are more costly than those used alongside scrubbers. These costs will continue to rise as well, reducing the amortisation period, and providing a better return on the investment (ROI) for efficiency enhancement technologies. “The more expensive fuels become the greater the fuel saving, and consequently greater reductions in OPEX.”