Are Lower Fuel Prices Increasing Maritime Speeds?

Resource type:
Categories:
Interested in this FREE data set?
Share:

Watching oil stock prices rally last week had us checking our AIS data to see if we might find some patterns to explain the fluctuations. While energy analysts argued the West Texas Intermediate (WTI) stock price rally was largely due to premature investor optimism stemming from relaxing COVID-19 lockdown orders, we wondered how lower bunker fuel costs might be affecting the maritime industry. The two major issues wreaking havoc in the oil industry remain unsolved: storage scarcity for crude oil and weak demand. Could lower bunker prices mean ships are traveling at higher, less fuel efficient speeds?

Percentage of active/moving VLCCs

Average Speed of VLCCs

More Stories

If you want to solve your last mile problems, start with the first miles
November 2, 2021

Shipments are taking longer than expected to arrive at their destinations. There are many reasons supply chains are strained and most of them can’t be solved overnight. So how do we manage cargo shipping and delivery when standard timelines no longer apply? We focus on starts and finishes: the first mile and the last mile.

Read more
Hurricane Ida: how did Oil and Gas platforms stay safe?
September 3, 2021

How do oil and gas platforms stay safe during these storms and how will this hurricane impact oil and gas markets in the future?

Read more
Shipping container shortage fuels shipping disruptions and threatens supply chain security
August 25, 2021

Everything from cars to Christmas gifts could be delayed due to a global shipping container shortage.

Read more
Port Closure Creates Massive Delays, Impacts Supply Chains
June 14, 2021


Read more