Tag: operating cost

The Swedish Club suggests vessel operators to always look to the long term, when deciding what type of engines to install across the fleet. Latest statistics from the Club show that vessels propelled by medium/high speed engines have a claims frequency 2.5 times higher than slow speed engines, with an average claims cost close to $650,000.

ONE informed that it has encountered significant inflation of fuel costs over recent months, as bunker fuel prices have increased by more than 25% during 2018. This increase in fuel costs made the company to implement a Bunker cost Recovery Surcharge charge on a widespread basis.

Three shipping giants, Maersk, MSC, and CMA CGM, have announced introduction of Emergency Bunker Surcharges, due to increasing fuel costs. The British International Freight Association, the trade association for UK freight forwarding and logistics companies, calls for an end to shipping line surcharges.

Three shipping giants, Maersk, MSC, and CMA CGM, making up together more than 45% of the global container capacity, announced introduction of Emergency Bunker Surcharges, due to increasing fuel costs. In view of this, iContainers suggested that a more transparent and long-term solution for implementing EBS is required. 

A joint industry project, comprising DNV GL, ECN, WMC, BREM, VanderHoekPhotonics, Deltares and other partners, seeks to reduce power-cable failures in offshore wind farms. These failures are the key risk affecting the offshore wind industry, representing about 80% of insurance claims.

UK-based University of Aberdeen, WFS Technologies, and OGIC launched a joint technology project to design and construct the world’s first ExtremeEdge OLM (On-line Monitoring) system for offshore subsea and platform structures. The cooperation seeks to deliver the first generation of real time fatigue monitoring system driven by AI.

PSC inspections are time-consuming since they include scrutiny of the ship’s certificates. In the wake of the DMA’s implementation of digital certificates on Danish ships, DMA and EMSA are examining how online control of certificates could make PSC inspections more efficient without compromising safety.

South Korean Hyundai Merchant Marine plans to double its size fleet by 2022, as part of a long-term development plan, as announced by President & CEO C.K. Yoo in his New Year message. The plan is fully aligned with the company's recently announced ambition to create a 22,000 TEU shipbuilding plan.

After two years of marked decline, average vessel operating costs stabilised in 2017 as pressure on owners was lifted by a nascent recovery across most cargo shipping markets. Trends in ship operating costs are related to developments in the wider shipping market, external cost pressures notwithstanding, Drewry explained.

DNV GL announced it has commenced the roll out of IMO-compliant electronic class and statutory certificates, introducing a historic first for its entire fleet. The use of electronic certificates could result in significant efficiency gains, cutting down administrative burdens, processing time and document handling costs.