The world's largest container liner Maersk Line is backing slower slow steaming as a response to rising bunker costs.
Slow steaming is an efficient way to reduce bunker consumption, lowering operational costs as well as cutting CO2 emissions, according to Jesper Praestensgaard, CEO Asia Pacific of AP Moller-Maersk.
Bunker bills currently account for about 50% of the shipping firm's operating costs, compared to about 20% a few years ago, he said.
Praestensgaard was speaking at the SustainableShipping Forum currently being held in Singapore (May 28-30).
He admitted that Maersk Line was a ''big contributor'' to carbon dioxide (CO2) emissions, but he said slowing vessel speeds provided part of a solution.
''Our customers want reliability and know we'll be slightly slower. But we are still able to deliver reliable product even with slower speed,'' Praestensgaard told Bunkerworld at the sidelines of the conference.
Slow steaming also allowed tonnage to be absorbed, creating a much tighter supply-demand situation, he noted.
He gave an example of a round trip on the Asia-Europe string from Shanghai to Rotterdam, saying slow steaming versus regular steaming would bring a reduction in CO2 emissions of 5,000 metric tonnes (mt).
Regular steaming for eight vessels travelling at 22 knots would consume 9,500 mt of bunkers and emit 30,000 mt of CO2. In slow steaming, nine vessels travelling at 20 knots would consume 8,000 mt and emit 25,000 mt of CO2, he said
Maersk Line's ME3 service between Europe and the Middle East will be carried out by slow steaming from June 7, with Maersk Kensington departing from Algeciras.
Slow steaming is an efficient way to reduce bunker consumption, lowering operational costs as well as cutting CO2 emissions, according to Jesper Praestensgaard, CEO Asia Pacific of AP Moller-Maersk.
Bunker bills currently account for about 50% of the shipping firm's operating costs, compared to about 20% a few years ago, he said.
Praestensgaard was speaking at the SustainableShipping Forum currently being held in Singapore (May 28-30).
He admitted that Maersk Line was a ''big contributor'' to carbon dioxide (CO2) emissions, but he said slowing vessel speeds provided part of a solution.
''Our customers want reliability and know we'll be slightly slower. But we are still able to deliver reliable product even with slower speed,'' Praestensgaard told Bunkerworld at the sidelines of the conference.
Slow steaming also allowed tonnage to be absorbed, creating a much tighter supply-demand situation, he noted.
He gave an example of a round trip on the Asia-Europe string from Shanghai to Rotterdam, saying slow steaming versus regular steaming would bring a reduction in CO2 emissions of 5,000 metric tonnes (mt).
Regular steaming for eight vessels travelling at 22 knots would consume 9,500 mt of bunkers and emit 30,000 mt of CO2. In slow steaming, nine vessels travelling at 20 knots would consume 8,000 mt and emit 25,000 mt of CO2, he said
Maersk Line's ME3 service between Europe and the Middle East will be carried out by slow steaming from June 7, with Maersk Kensington departing from Algeciras.