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.
