World News
Carnival Fuel Consumption Flat, Bunker Bill Falls by a Third
For the first nine months of 2016, Carnival Corporation & plc (Carnival) has reported mostly flat bunker consumption but a significant fall in the price it has paid for fuel.
For the nine months ended August 31, 2016 Carnival said it consumed 2,417,000 metric tonnes (mt) of fuel, and paid an average price of $268/mt.
This compares with 2,379,000 mt burned at an average cost of $418/mt for the same period in 2015.
The fall in bunker price resulted in the company's fuel bill falling by a third, down from $996 million for the period in 2015 to $648 million in 2016, for savings of $348 million year-on-year.
For full year 2016, Carnival projects consumption of 3,250,000 mt at an average cost of $285/mt, and overall the cruse giant is expecting a strong year.
"We are well on track to deliver nearly 25 percent earnings growth in 2016. With cash from operations expected to reach a record $5 billion this year, we continue to fund our growth and return cash to shareholders," said Arnold Donald, Carnival President and CEO.
"Looking forward, we are well positioned for continued earnings growth given the current strength of our booking and pricing trends in 2017."
In August, Carnival announced that the company had reduced it's carbon intensity rate by 2.8 percent during the 2015 year, translating to a 23.4 percent overall CO2 emissions reduction against the 2005 baseline.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.00 | 6.00 | 762.00 | 5.50 |
| Rotterdam | 599.00 | 1.00 | 751.00 | 0.50 |
| Houston | 618.00 | 11.50 | 802.50 | 6.50 |
| Fujairah | 642.00 | 5.50 | 883.50 | 5.50 |
| Global 20 Ports Average | 661.50 | 3.50 | 859.00 | 5.00 |
| Global 4 Ports Average | 629.50 | 1.00 | 799.50 | 1.50 |
| Global Average Bunker Price | 719.00 | 3.50 | 915.00 | 7.50 |
Popular Now More
-
Apr 23The ship had come to Singapore from St Petersburg. -
Apr 22The 46,000 DWT MR2 chemical tanker Green Land was arrested at about 3:30 PM on April 17. -
Apr 22Iranian fuel oil has been widely reported to have been resold in the bunker markets of ports in the region for years, as well as being exported further afield.