Making Market Sense of Eco Ships
The global market in which the shipping industry operates is an almost perfect one – under the market pressure, more premium freights don’t last a particularly long time, therefore the one making the best return on his or her investments will be the owner of the tonnage which is cheaper to operate.
To put it simply, that is the reason for going green – it is purely much cheaper to operate an eco ship than one which is less economical with its fuel. We are now entering the age of renewable energy.
Why You Should Go Green
Currently, the prices at shipyards are, on average, at somewhat of a low point, even though said shipyards are able to deliver vessels of high quality that can operate in such a way as to save multiple tonnes of fuel every single day.
The Grontmij Seahorse 35, for example, uses just 17 tonnes of fuel per day, even when operating at 13 knots at full DWT capacity – a far cry from other ships in its class, which would use ten tonnes more under similar conditions.
The current poor freight markets are predicted to stay that way for a while, but owners of these new, more economical vessels can still benefit from this huge competitive advantage. If you want to lower your operating costs whilst still not paying through the nose for your ship, now is the time to go green.
The Near Future of the Shipping Industry
Of course, the poor market is not going to carry on forever; the current tonnage oversupply might well persist, but the eco ships being ordered presently will be cheaper both to build and to operate, so any owners will surely continue to prosper.
Even better than that, they will be beating the regulation changes – emission standard, particular in regards to sulphur, are being tightened all the time; using less heavy fuel oil (HFO) will keep the operators ahead of the curve.
Seafaring companies, from marine rope suppliers to chemical tankers, look to benefit from eco ships, especially when you look at the changing industry litigation, such as the imposition in the trading of CO2 emissions and the limits to fuel efficiency that look set to come into force.
Sooner Rather Than Later
If you decide to put off going green until the regulation changes and forces you to do so, you are choosing to lose money; it is as simple as that. Currently, the shipyard prices are at a low point; you should take advantage of this while you can, as it won’t always be this way.
If you wait until the regulation comes in, you can expect to have to suffer busy shipyards, as other companies will have done the same. This, in turn, will affect the prices, driving them much higher than they are now.
If you need further encouragement, just look to Scorpio – they recently reported that their five new eco ships are bringing in nearly $4000 a day more than their other MR vessels. What more proof could you need?