Maersk Line to Save $35 million with Retrofit Programme

By Finance

Maersk Line is planning to spend up to $35 million as it pushes ahead with a fuel saving retrofit project for its tanker ships.
One of the Maersk Line's "I-class" VLCCs is being fitted with fuel saving devices, which include Becker Mewis propeller ducts and propeller boss cap fins on a range of owned tanker ship. In the programme is included screening and retrofitting around 70 tanker vessels of Maersk Line over the next 2 to 3 years.
The Maersk Line's drive to raise fuel efficiency is going to focus on as many as thirt-five separate measures, which are all going potentially to contribute to fuel savings across the fleet.
Maersk Line believes that retrofitted tonnage could yield fuel savings of as much as 8-10 per cent. Company naval architects are carefully going to assess each class of ship in the Maersk Line's fleet and professionals from the group's technology firm, Maersk Maritime Technology, to determine which retrofits would be the most effective.
Maersk Line's view is that existing ships may give fuel savings of between 8-10% at a relatively low cost, rather than ordering new vessels against the current backdrop of substantial overcapacity. Cutting fuel consumption by 8% would translate into savings of around $8,000 a day, or $30 million per year, for each VLCC.