Bunker costs a boon for alternative fuels

Increased bunker costs are showing no signs of falling and the conflict in the Strait of Hormuz is expected to continue to drive elevated fuels costs into the foreseeable future, however, an unintended consequence of high bunker prices is that alternative fuels become financially viable.

Moreover, the drive to find efficiency gains will be crucial to vessel operators and charters alike as the drive to achieve major cost savings, in direct fuel costs and carbon penalties, could become a driver for decarbonisation.