Bunker prices have seen significant volatility this year. File Image / Pixabay
Fuel consumption by container line Hapag-Lloyd dropped by 9.1% in the first half of 2020, the company said Friday.
Hapag-Lloyd consumed a total of about 2 million mt of fuel in the first half of the year, down from 2.2 million mt in the same period of 2019, the company said in an earnings release.
"This decline is essentially attributable to the COVID-19 related temporary suspension of sailings," the company said.
Fuel efficiency increased slightly over the year, with the company burning 0.36 mt of fuel per TEU transported in the first half, down from 0.37 mt/TEU a year earlier.
The company paid an average of $448/mt for its fuel in the first half of 2020, up by $19/mt from the average $429/mt paid in the same period a year earlier.