The Business Times
business-time-50
SUBSCRIBERS

Full steam ahead: cheaper fuel may not help shipping industry

google-preferred-sourceAdd BT as a preferred source
Published Thu, Aug 20, 2015 · 09:50 PM

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    Singapore

    A SLIDE in marine fuel prices to six-year lows should be a welcome break for global shipping - by slashing costs for an industry struggling to recover from its worst downturn in decades.

    But shipping operators say the benefits on some routes risk being short lived as cheap fuel is encouraging firms enjoying better rates to ditch "slow steaming", a practice started from 2007 to operate ships below maximum speed to save cash after a jump in fuel prices.

    Share with us your feedback on BT's products and services

    Feedback

    TRENDING NOW

    The yen weakened to a low of 125.33 yen per Singdollar on April 13, before recovering slightly to about 124.91 on April 15.

    Singaporeans can now buy record amount of yen per Singdollar

    Chinese Foreign Minister Wang Yi stopped short of explicitly naming the US or Israel as aggressors, a telling omission from a country that otherwise speaks with little diplomatic timidity.

    Beijing’s calculated silence on the Iran war 

    Malaysia Madani, or Civil Malaysia, is Prime Minister Anwar Ibrahim's slogan encapsulating positive values (such as humanity and strong governance) that would shape policy direction. But the "corporate mafia" claims have now cast the spotlight on governance credibility.

    From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?

    Malaysia ranks 23rd globally on the Milken Institute’s global opportunity index.

    South-east Asian markets account for 8.8% of global capital inflows from 2021 to 2024: report

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More