Battery Ready Vessels Considered as More Profitable …

first_imgzoom Motivated by stricter environmental regulations, growing pressure to reduce greenhouse gas emissions, rising fuel costs, and availability of new energy sources the shipping industry is forced to consider alternative fuels and new technologies. Battery ready vessels might be one of the alternatives.There are a number of alternative fuels or energy carriers that can be used in shipping, all with different benefits and challenges. What fuel a shipping company should choose for a specific vessel depends on a variety of factors, including ship type, operational profile, and trading pattern. A vessel ordered today will still operate in the 2030s, in a world with unknown fuel availability, fuel prices, and regulatory requirements. Making the wrong fuel choice today can have major implications for the commercial performance of a ship over the next decades, including tradability and the second hand value.DNV GL is offering services tailored to assist ship owners in their selection and implementation of technology. DNV GL has evaluated more than 20 different ‘LNG ready’ cases, covering bulk carriers, chemical tankers, general cargo carriers, container vessels, fast ferries, gas carriers, and a heavy lift vessel. DNV GL is now also using the approach to evaluate whether vessels are ‘battery ready’. Six maritime technology qualifications have been run or are currently in process in DNV GL, most of them qualifying SOx scrubber systems installed by ship owners for compliance with upcoming MARPOL regulations.Deciding which alternative fuel to choose is a complicated task for ship owners. By following a structured approached, ship owners can ensure that they select the most commercially attractive option for a vessel, given today’s knowledge.On a seminar Maritime Advisory’s seminar on profitable environmental technologies at Høvik this week, some 100 participants representing yards, charterers, ship owners, Norwegian authorities and equipment manufacturers attended.DNV GL, March 5, 2014last_img read more

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Volumes up, Profit down at CMA CGM

first_imgPress Release, August 29, 2014 zoom The Board of Directors of CMA CGM Group, the world’s third largest container shipping company, met under the chairmanship of Jacques R. Saadé, Chairman and Chief Executive Officer, to review the financial statements for the second quarter of 2014.In the second quarter, in a market environment shaped by diverging developments in different regions:Consolidated revenue amounted to USD 4.2 billion, up 3.7% year-on-year;Volumes carried increased by 8.0% to 3.1 million TEUs;Average revenue per TEU decreased by 3.9% over the period.CMA CGM believes that the sustained growth in volumes was mainly attributable to the development of the Group’s Asia-Europe and Africa lines, and of the Asia-Pacific lines of its subsidiary ANL. As a result, the Group achieved record-high volumes for the period.In addition, CMA CGM has reduced costs per TEU by 4.8%, as well as fuel costs per TEU by 9.3%, which the company attributes to the combined effect of lower bunker consumption per unit and more moderate bunker prices.Core EBIT amounted to USD 204 million in the second quarter of 2014, versus USD 172 million in the prior-year period, representing an 18.4% increase.Consolidated net profit came to USD 94 million, versus USD 268 million in the second quarter of 2013, with last year’s amount including a non-recurring USD 248 million in proceeds from the sale of the 49% stake in the port terminal operations subsidiary Terminal Link.Following the arrival of the Danube, the first 9,000 TEU long-term charter vessel deployed on the Black Sea lines, the Elbe and Rhône vessels will be delivered to CMA CGM in the coming weeks.The freight rates remained volatile overall, with the usual high level of volumes at this time of the year helping drive current rate increases, according to the Group. On this basis, CMA CGM expects its third-quarter operating performance to be sustained.last_img read more

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