Hapag-Lloyd saw a steep rise in bunker prices in the first half. File Image / Pixabay
Hapag-Lloyd, soon reportedly set to take over from AP Moller-Maersk as the world's largest container line, saw its first-half bunker consumption jump by 2.9% on the year.
The firm used about 2.11 million mt of marine fuels in the first half of 2021, up from 2.05 million mt a year earlier, it said in financial results released on Thursday.
Bunker consumption per slot climbed to 2.41 mt/TEU from 2.35 mt/TEU a year earlier.
The company paid an average of $462/mt for its bunkers in the first half, up from $311/mt a year earlier.
"Compared with the prior year period, the rise in the average freight rate and the decrease in the average bunker consumption price in particular had a positive impact on Hapag-Lloyd's earnings in the first half of the 2021 financial year," Hapag-Lloyd said in the statement.
"Ongoing operational challenges in connection with congestion of port and hinterland infrastructures as well as local COVID-19 restrictions led to capacity bottlenecks and had a negative impact on the half-year result."