ENMARK's Maersk Line will pay owners of ships it charters to retrofit vessels with fuel-saving technology, having signed agreements in what may be a new trend in the industry.
Dutch bank ABN Amro's global transport chief Gust Biesbroeck told Lloyd's Loading List that owners were now looking for retrofit loans as it is appearing to the most sensible approach in today's lean market.
"We are now faced with more than enough tonnage, so ordering more ships to get more fuel-efficient ones is not a good idea. The average remaining life of the fleet is about 15 years, so there is a lot of upside and so a lot of economic benefit that lead to investment," Mr Biesbroeck said.
Phase one at Maersk will involve 300 chartered ships now being retrofitted, including 50 with only two years in their contracts.
Most containerships are high-speed vessels, but with rising bunker costs the emphasis is now on fuel saving slow steaming, and charter owners have had little incentive to retrofit their ships to make them suitable for slow steaming as they gain no benefit from fuel savings.
One of the largest benefactors of this Maersk retrofit drive is Erck Rickmers-controlled ER Schiffahrt, one of the top tramp shipping companies and a large supplier of tonnage to Maersk Line.
Eleven of ER Schiffahrt's ships have had variable turbocharger cut-outs installed on Maersk's account, said company CEO Herbert Klein.
Dr Klein said it is natural that carriers take the initiative as they were the beneficiaries, but added: "We have a leaner market, every charterer is looking for a fuel-efficient vessel. So if you want to charter out a vessel, you need to do something with that vessel."
Dutch bank ABN Amro's global transport chief Gust Biesbroeck told Lloyd's Loading List that owners were now looking for retrofit loans as it is appearing to the most sensible approach in today's lean market.
"We are now faced with more than enough tonnage, so ordering more ships to get more fuel-efficient ones is not a good idea. The average remaining life of the fleet is about 15 years, so there is a lot of upside and so a lot of economic benefit that lead to investment," Mr Biesbroeck said.
Phase one at Maersk will involve 300 chartered ships now being retrofitted, including 50 with only two years in their contracts.
Most containerships are high-speed vessels, but with rising bunker costs the emphasis is now on fuel saving slow steaming, and charter owners have had little incentive to retrofit their ships to make them suitable for slow steaming as they gain no benefit from fuel savings.
One of the largest benefactors of this Maersk retrofit drive is Erck Rickmers-controlled ER Schiffahrt, one of the top tramp shipping companies and a large supplier of tonnage to Maersk Line.
Eleven of ER Schiffahrt's ships have had variable turbocharger cut-outs installed on Maersk's account, said company CEO Herbert Klein.
Dr Klein said it is natural that carriers take the initiative as they were the beneficiaries, but added: "We have a leaner market, every charterer is looking for a fuel-efficient vessel. So if you want to charter out a vessel, you need to do something with that vessel."
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