World News
ONE Reports 14.7% Drop in Bunker Consumption in First Quarter
Container line ONE has reported a 14.7% drop in its bunker consumption in the first quarter of its financial year.
The firm consumed 773,000 mt of bunker fuel in April-June 2022, down from 906,000 mt in the same period a year earlier, it said in an earnings report on its website.
The decline was "due to a reduction in the number of vessels and port congestion," the company said.
The firm paid an average of $750/mt for its fuel in the three-month period, up from $465/mt a year earlier.
"ONE expects that the excessive strain on the entire global supply chain and the resulting operational bottlenecks caused mainly by the spread of COVID-19, will eventually be resolved and the situation will gradually move toward normalization," the company said in the statement.
"However, it is currently difficult to predict exactly when due to the wide range of effects.
"Furthermore, it has become more difficult to forecast the overall business environment in the face of increasing uncertainties."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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