Despite low crude oil prices, Hakan Ozcan Chied Financial Officer at Ecoships, advises the industry to resist the temptation “to put your foot on the gas and speed up a bit (…) When oil prices are low shipowners can benefit more fully from energy-saving technologies.”
It is no secret that bunker is the single largest operational cost for shipowner, therefore by not speeding up, the low bunker prices will improve profit and loss accounts, and make it possible for shipowners to invest in technologies, redesigns and so forth, which can reduce the fuel consumption even further. As such it is Hakan Ozcan’s believe that this is a viable commercial opportunity for shipowners to replace aging tonnage. The upgrade od the fleet would thus make the vessels capable of meeting environmental regulations that are continuously becoming more stringent.
Hakan Ozcan finishes by saying: “It just makes economic sense. It is highly unlikely that we will see a return to fast steaming, so vessels designed for low fuel consumption to minimize shippings impact on the environment will continue to be an integral part of the ship manager’s business model. “