Maerks saves $500m in bunker costs

AP MOLLER-Maersk has saved a total of $500m in bunker costs so far this year through slow steaming and other efficiency measures.
The box giant, which is aiming for a 35% total reduction in terms of emissions per containership by 2017, says it has already achieved a 15% reduction through reduced fuel consumption.
The percentage reductions have been calculated relative to the amount of business conducted so the dollar equivalent cost savings are unlikely to be quite so dramatic once trade picks up. However, according to Maersk director of sustainability Soren Stig Nielsen, a further 20% reduction in emissions is entirely achievable.
“I think as trade picks up there are going to be more ships in operation so that is going to have a bearing on the savings, but we are very keen on pursuing these targets — particularly if bunker costs are only going to rise. We will do whatever we can to drive costs down,” he told Lloyd’s List.

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