AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.

Ship operating costs 'rise 34%'.

Europe Intelligence Wire

| November 07, 2005 | COPYRIGHT 2005 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From Lloyds List)

SHIPPING costs have jumped 34% over the year, according to impending revisions from the Worldscale Association, writes Martyn Wingrove.

Shipping companies have had operating costs hit by ever rising oil prices as bunker fuel costs have rocketed during this year.

Worldscale, based in London and New York, has taken these rises into account for next year's tanker nominal freight scales, increasing the fuel costs used in its calculations for 2006, of 34%.

Worldscale uses one average bunker fuel price in its rate calculations. This will go up to to $231.50 per tonne in 2006 compared with $173 for 2005 scales, reflecting the latest bunker price rises.

Oil prices have risen around 45% this year as a combination of rapidly growing demand, tightening supply of crude, falling refining capacity and Gulf of Mexico hurricanes all taking their toll.

This has increased the cost of 380-centistoke fuels, used by Worldscale in its tanker nominal freight scale ...

Related articles from newspapers, magazines, journals, and more
PetroChina partners with COSCO in bunker fuel oil development.
Newspaper article from: China Business News March 11, 2003 700+ words
...PetroChina partners with COSCO in bunker fuel oil development Shanghai. March...become a shareholder in COSCO's bunker fuel subsidiary, the China Marine...oil products. As to COSCO, operating costs are expected to be reduced by...
Ethos Bunker Fuel Conditioner Radically Reduces Carbon Monoxide in PetroEcuador...
Press release article from: PR Newswire January 7, 2008 700+ words
...with the use of Ethos Environmental's Bunker Fuel Conditioner. Testing was conducted...protocol consisted of the addition of Ethos Bunker Fuel Conditioner to the heavy fuel oil powering...Esmeraldas. Lab reports concluded that Ethos Bunker Fuel Conditioner reduced carbon monoxide...
PDV Embraces E-Commerce With First Online Sale of Bunker Fuel.(Petroleos de...
Newspaper article from: The Oil Daily February 16, 2001 700+ words
...Commerce With First Online Sale of Bunker Fuel State giant Petroleos de Venezuela...to conduct an online trial auction of bunker fuel, possibly as early as next week, according...ability to provide a timely response." Bunker fuel, it seems, is ideally suited to test...
3 Companies Battle For Market as e-Trading Of Bunker Fuel Takes Off.(Brief...
Newspaper article from: The Oil Daily March 23, 2001 700+ words
...Companies Battle For Market as e-Trading Of Bunker Fuel Takes Off Bunker fuel itself may be slow moving, but e-bunkers are...product to have a modicum of e-trading success, bunker fuel owes its pioneering status to the fact that it...
New bunker fuel management system FuelTrax.(SHOWCASE)
Magazine article from: Marine Log August 1, 2009 700+ words
...Tex., has debuted a new advanced bunker fuel measurement system to support customers...automatically and accurately measures bunker fuel--as its pumped from a barge on to...OMITTED] The FuelTrax system measures bunker fuel deliveries in real-time regardless...
Singapore: Mercuria mulls selling bunker fuel in S'pore.
News wire article from: TendersInfo July 7, 2009 700+ words
...Energy Trading is considering selling bunker fuel in Singapore and has leased a supertanker...oil market is shrinking, growth in bunker fuel demand is increasing as the shipping...Petrochemical, which will start selling bunker fuel in Singapore next month after it paid...
Bunker fuel emission - a new emerging issue in the Pacific.
News wire article from: PAC - Pacific Islands Broadcasting Association November 10, 2004 700+ words
...Parties (COP 10) meeting in Argentina has identified that bunker fuel emissions is present in many PICs. Emissions from bunker fuels come from aviation and shipping sources. "Bunker fuel emissions is a major source of greenhouse gases emission...
Rosneft Eyes Bunker Fuel Business.(Brief article)
Newspaper article from: NEFTE Compass December 5, 2007 700+ words
Rosneft hopes to enter the bunker fuel business on both the domestic and international markets in the near future, in...controlled Gazprom Neft announced in October it had opened its own subsidiary to sell bunker fuel at Russian ports.
For more facts and information, see all results
©2009 Gale, a part of Cengage Learning. All rights reserved.
About us | FAQs | Contact us | Privacy policy | Terms and conditions
Other Gale sites: Encyclopedia.com | HighBeam Research | Acquire Content | Books & Authors | Goliath | MovieRetriever | Smart QandA