World News
Hapag-Lloyd First-Half Bunker Consumption Gains 2.9% on Year
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."
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 |
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