Catch 22 in slow steaming equation

With ships’ bunker costs having dropped by as much as 58%, slow steaming no longer saves money for the box lines.

And lines, which had switched to a more ships and slower speed policy, are now faced with the fact that operating fewer ships at faster speeds are currently a better alternative.

But other accompanying changes they have made are placing them in a Catch 22 position. If they go for that faster sailing alternative, what do they do about modifications to ships that many have also made - like replacing propeller blades and stem bulbs and new, narrower-gauge fuel injection pumps. Some have even gone for newbuilds designed to sail at slower speeds.

And the big question behind it all is: How long do the low prices prevail?

Source: Lloyds List