It’s no secret – shipping is going through a tough time. And in tough times, owners and operators need to do everything they can to help the bottom line. The industry has been rife with consolidations, bankruptcies, acquisitions and downsizing. But what else can shipowners and charterers do to become more profitable?
The cost of bunker fuel is an easy place to start. Fuel accounts for a whopping 60-80% of the cost of a voyage. So what are the ways an owner can reduce these costs?
1. Slow Steaming
This is an obvious one. Drag on a ship reduces “quadratically” with the speed, […] Read more