Maersk CEO Sees Zero-Carbon Fuels Doubling Company's Bunker Bill

by Ship & Bunker News Team
Monday February 22, 2021

Shipping and logistics giant AP Moller-Maersk expects the shift to zero-carbon fuels roughly to double its bunker costs.

The firm spent $3.835 billion on its bunker consumption last year, down from $4.566 billion the previous year.

CEO Søren Skou expects "we have to spend maybe double that amount" once it is buying zero-carbon fuels, news agency the BBC cited him as saying on Friday.

The company's average bunker price was $372/mt last year, implying it is expecting a price in the area of $750/mt for zero-carbon fuels in VLSFO terms, at current prices.

The actual outright price would be lower than this per tonne, but the company would need to buy a greater tonnage of fuel to achieve the same effect because of the lower density of zero-carbon fuels.