World News
Maersk Sees 6.7% Cut in Bunker Consumption Despite Fleet Growth
Denmark's AP-Moller Maersk, the world's largest shipping company, cut its bunker consumption by 6.7% last year despite marginal growth in its fleet.
Total bunker consumption dropped to 11.092 million mt in 2019 from 11.894 million mt the previous year, the company said in its annual report Thursday.
Average nominal fleet capacity advanced by 0.4% to 4.132 million twenty-foot equivalent units (TEU) over the same period.
Maersk paid an average $412/mt for its bunker fuel last year, down from $424/mt in 2018.
The company's bunker efficiency improved significantly, with consumption calculated in grams of fuel consumed to transport one TEU one nautical mile down by 6.9% over the year to 41.2 g/TEU*NM in 2019.
Maersk is the largest consumer of bunker fuel in the world, representing about 3.7% of global marine fuel demand.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.50 | 2.00 | 778.50 | 8.50 |
| Rotterdam | 602.00 | 0.50 | 748.00 | 6.00 |
| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
Popular Now More
-
Apr 24Non-compete clauses have not always been used in a fair and reasonable way in the bunker industry, Maritime Recruitment Company Ltd's Vernon Jayanathan tells Ship & Bunker. -
Apr 25The new hire was previously a marine fuel trader for Vilma Oil in Madrid from June 2017 to last month. -
Apr 24The arrests were both on Monday.