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Stena Bulk achieves $9.7m in savings from energy efficiency

Stena Bulk achieves $9.7m in savings from energy efficiency
Sweden-based Stena Bulk has shared that it is saving SEK65m ($9.7m) annually from efficiency-enhancing measures that are helping the company cut bunker fuel consumption and lower shipping emissions.

At the start of this year, Stena Bulk initiated the efficiency-enhancing project where energy optimisation and reduced bunker fuel consumption can be achieved through increased efficiency from a commercial and operational perspective.

Half of the SEK65m in savings on an annual basis is considered to be related to technology and half to commercial and operational measures, according to Stena Bulk.

It added that enhancing efficiency will also lower the environmental impact by reducing sulphur oxide emissions by around 1,400 metric tonnes in 2013.

“We are delighted to see that our ambitious project for increasing energy efficiency, where we are working with a specific energy budget for each vessel and voyage, has had immediate and very positive results,” said Erik Hanell, president and ceo of Stena Bulk.

The company claimed that its modern fleet saw its new suezmax tankers consumed 25% less bunker fuel compared with the same vessels built only two to three years ago. Compared with older tonnage from the end of the 1990s, the fuel savings are as much as 40%.