The company saw a net profit of $65 million in 2024, down from $109 million in 2023, while bunker volumes climbed to 6.8 million mt from 6.5 million mt a year earlier,
Failing to keep track of energy density variations could be costing shipping companies as much as $25/mt in fuel bills, Shipergy CEO Daniel Rose tells Ship & Bunker.
The product is being produced at the company's 100,000 b/d Fujairah refinery, and the firm's ship the Elandra Falcon was the first to take on the new fuel at Fujairah.
The report assesses the total daily operating costs for VLSFO, LNG, methanol, biodiesel, hydrogen and ammonia, factoring in IMO penalties, fuel prices, capital expenditure and retrofit costs.
FOBAS has tested fuel samples from different vessels that have reported problems with fuel injection equipment seemingly caused by a substance sticking and seizing the jerk type fuel pumps.