Most shipping lines' will cut speed to save on fuel

One of the world's largest container shipping lines says bunker costs now account for over 50% of its vessels' operating expenditure. A senior official of the French container transport and shipping company CMA CGM predicted that "most shipping lines" would start steaming at "economic speed to minimise bunker fuel consumption."

Simon Whitelaw, managing director of CMA CGM Malaysia, was speaking at the opening of new offices at the Malaysian Westports complex in Port Klang.

He praised the efficiency of cargo handling at Westports, saying high productivity was important to allow vessels sailing at slower speeds to catch up on their schedules.

CMA CGM said in November that the company had decided to cut the speed of ships on services between Asia and Europe. It said the move was needed to help cut bunker consumption.

It estimated that sailing at slower speeds could cut fuel bills by as much as 40%.

Bunker prices in Asia have almost doubled in 12 months, with 380 centistoke (cst) bunker fuel reaching a high of $514 per metric tonne (pmt) in early November.

CMA CG is the world's third-largest container shipping line. It uses Westports as one of its Asian hubs. It expects to have moved 1.6 million TEUs (20-foot equivalent units) through Westports in 2007.