Bunker procurement strategies in liner shipping companies : considerations in fuel consumption reduction based on regulatory and technical aspects

Shipping trade is of great importance as it gets goods to move around globally and internationally. With continual growth of shipping, the need for fuel to move the ships increases as well. Undoubtedly, bunker costs appear to be the greatest expenditure for operating costs, fetching up to almost 60%...

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Bibliographic Details
Main Author: Noor Hidayah Borahan.
Other Authors: Teo Chee Chong
Format: Final Year Project (FYP)
Language:English
Published: 2010
Subjects:
Online Access:http://hdl.handle.net/10356/39461
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author Noor Hidayah Borahan.
author2 Teo Chee Chong
author_facet Teo Chee Chong
Noor Hidayah Borahan.
author_sort Noor Hidayah Borahan.
collection NTU
description Shipping trade is of great importance as it gets goods to move around globally and internationally. With continual growth of shipping, the need for fuel to move the ships increases as well. Undoubtedly, bunker costs appear to be the greatest expenditure for operating costs, fetching up to almost 60%. Tagged with fluctuating market price, shipping companies are exposed to the risk of making losses as well as benefit from making profits. Nevertheless, this only drives the companies to find ways to reduce fuel consumption and bunker costs. However, shipping contributes to air pollution from the emissions of the ships. Strict regulations are imposed to restrict the emissions for the benefit of the society and environment. Hence, shipping companies would need to consider its impact on their business and operations. Additionally, companies would need to consider if their practices are effective in reducing bunker costs and what other practices can be deemed feasible. Eventually, this report ventures the factors that may affect and prompt considerations that could influence the ways in reducing bunker consumption.
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spelling ntu-10356/394612023-03-03T17:20:10Z Bunker procurement strategies in liner shipping companies : considerations in fuel consumption reduction based on regulatory and technical aspects Noor Hidayah Borahan. Teo Chee Chong School of Civil and Environmental Engineering DRNTU::Engineering::Maritime studies::Maritime management and business Shipping trade is of great importance as it gets goods to move around globally and internationally. With continual growth of shipping, the need for fuel to move the ships increases as well. Undoubtedly, bunker costs appear to be the greatest expenditure for operating costs, fetching up to almost 60%. Tagged with fluctuating market price, shipping companies are exposed to the risk of making losses as well as benefit from making profits. Nevertheless, this only drives the companies to find ways to reduce fuel consumption and bunker costs. However, shipping contributes to air pollution from the emissions of the ships. Strict regulations are imposed to restrict the emissions for the benefit of the society and environment. Hence, shipping companies would need to consider its impact on their business and operations. Additionally, companies would need to consider if their practices are effective in reducing bunker costs and what other practices can be deemed feasible. Eventually, this report ventures the factors that may affect and prompt considerations that could influence the ways in reducing bunker consumption. Bachelor of Science (Maritime Studies) 2010-05-24T09:02:49Z 2010-05-24T09:02:49Z 2010 2010 Final Year Project (FYP) http://hdl.handle.net/10356/39461 en Nanyang Technological University 65 p. application/pdf
spellingShingle DRNTU::Engineering::Maritime studies::Maritime management and business
Noor Hidayah Borahan.
Bunker procurement strategies in liner shipping companies : considerations in fuel consumption reduction based on regulatory and technical aspects
title Bunker procurement strategies in liner shipping companies : considerations in fuel consumption reduction based on regulatory and technical aspects
title_full Bunker procurement strategies in liner shipping companies : considerations in fuel consumption reduction based on regulatory and technical aspects
title_fullStr Bunker procurement strategies in liner shipping companies : considerations in fuel consumption reduction based on regulatory and technical aspects
title_full_unstemmed Bunker procurement strategies in liner shipping companies : considerations in fuel consumption reduction based on regulatory and technical aspects
title_short Bunker procurement strategies in liner shipping companies : considerations in fuel consumption reduction based on regulatory and technical aspects
title_sort bunker procurement strategies in liner shipping companies considerations in fuel consumption reduction based on regulatory and technical aspects
topic DRNTU::Engineering::Maritime studies::Maritime management and business
url http://hdl.handle.net/10356/39461
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