One of the most critical issues affecting tanker market rates is well known to be speed. Whilst one owner or manager can make decisions for one’s own vessel(s), it is the whole fleet that affects rates. And while an owner can decide to slow or accelerate, this decision is going to be driven by optimizing operating efficiency or returns based on rates, costs, and of course, charterer requirements. Therefore, Genscape set out to examine the relationships between aggregate fleet speeds and the prevailing prices of bunkers and spot charter rates.
In this white paper, data obtained by Genscape Vesseltracker shows the relationship between ship speeds and bunker prices, as well as prevailing shipping rates. Additionally, this paper expands onthe relationship between VLCC fleet speed and the effective size of the VLCC fleet.
Click here to download the white paper.
