Trafigura Group recently announced its plans against climate change, setting new target to reduce the carbon emissions from its shipping operations. The company showed its support on the idea of imposing slow steaming regulations to cut GHG emissions.
In an exclusive interview with SAFETY4SEA, Dr. Harilaos Psaraftis, Professor at the Department of Technology, Management and Economics, Management Science Division of Technical University of Denmark (DTU), clarifies the difference between the terms “speed optimization” and “speed reduction” and how speed reduction can lead to GHG emissions reductions.
The Global Shippers Forum (GSF) commented on ITF’s Transport Outlook 2019, noting that sustainable solutions to the environmental challenges faced by global shippers need to be found, without stifling economic development.
Öko-Institut e.V. published a study on the impact of slow steaming for different types of ships carrying bulk cargo. Mainly, speed reduction of up to -30% could result to net cost savings for shipping industry and states in the majority of cases.
Carriers will be able to limit the capacity inflation of the ultra large container vessels (ULCVs) that are to arrive the following years by delaying deliveries and slowing services, according to Drewry. According to the current orderbook, the overall number of orders is approximately 460.000 TEU for 2019, whereas Drewry predicts that in 2020 the calls will reach about the 620.000 TEU, reaching a record.
The VLCC (Very Large Crude Carriers) markets have staged a modest recovery ahead of market speculation that OPEC may relax production cut discipline and rising bunker prices which are providing a negotiating point for owners, according to data provided by VesselsValue.
The slow steaming practice resutls in fuel saving and cuts in nitrogen oxides (NOx) emissions
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