Over the last few months I’ve done a survey of marine operators to gauge their thoughts relative to marine fuel management. If you’ve not taken the survey yet it’s still up on my blog and I will continue to collect additional responses and update the results if anything significant changes over time.

In my previous blogs I’ve pointed out the current trend in fuel prices so let me continue that practice. My last blog post was in December and at the time Houston MDO was $807.50. Yesterday, January 26th, it was $846.50…. that’s up $39.00. It was $651.50 when I first started reporting fuel prices in July of last year. That’s an increase of $195.00 in only 7 months! It may come down again, and I’m sure many hope it will, but it appears that there are more things percolating in the world economy that would continue to force it upward over time than things that will let if come back down.

So let me share with you some of the results from the Marine Fuel Management Survey to date;

When asked how rising fuel costs would impact their operation survey respondents gave the following answers;

•50% said that their customers paid for the fuel so they were not worried!
•BUT, when asked if their customers were starting to require more accurate accounting and reporting of fuel consumption 75% said yes!
•Over 85% said that rising fuel costs would have a NEGATIVE impact on their business!
•AND, over 85% said it would FORCE them to purchase newer more efficient engines!
•75% said it would force them to re-examine some of their contracts and pricing!

It’s obvious that with fuel prices rising in ways that appear to mark some permanent increases (do you really expect it to go back to $650/ton?), fuel will continue to be one of the biggest expenses facing marine operators and will top many a board room agenda as heads are scratched to find ways to offset these costs and remain competitive.

So again I ask,

Is reducing fuel consumption important to your company? If the answer is yes, how will you address the issue?

If you haven’t done so – please add your voice - take the Marine Fuel Management survey – click on the link under “Participate In A Survey” below right.

Remember …

Having good information is key to making good business decisions and MFM solutions are key to having good information about your vessels fuel consumption and operating habits.