Asia/Pacific News
Cost of Bunkers Rise for Japanese Lines
For the period from April 1, 2012 to December 31, 2012, three major Japanese shipping lines say the average price paid for bunkers rose an average of $17.00 per metric tonne (pmt) year-on-year to a range of $673 to $682 pmt, according to data in their latest company reports.
Kawasaki Kisen Kaisha, Ltd. (K-Line) reported that it paid $677 pmt during the nine months, up $16 pmt from $661 one year earlier, while Nippon Yusen Kabushiki Kaisha (NYK Line) [TYO:9101] reported an increase of $17 to $682 pmt from $665.
Mitsui O.S.K. Lines [TYO:9104] (MOL) said its cost of bunkers rose $18 pmt to $673 pmt, up from $656.
NYK Line said cost-reduction measures including optimising vessel operations to reduce fuel costs helped it increase its revenue year-over-year for the nine months and achieve a net income of ¥3.2 billion ($39.8 million) after a loss of ¥17.3 billion in 2011.
K-Line, which swung to a ¥9.4 billion ($108.6 million) profit for the nine months, after losing ¥42.2 billion in the three quarters ended December 31, 2011, said high fuel oil price and appreciation of the yen put a damper on improvements in the containership market.
MOL, which reported a loss of ¥59 billion for the nine months, said in late December that it was increasing the use of slow steaming and adopting other cost-reduction measures, but that they would not be enough to avoid a loss for the year.
