World News
Maersk CEO Sees Zero-Carbon Fuels Doubling Company's Bunker Bill
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.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 565.50 | 6.00 | 661.50 | 4.00 |
| Rotterdam | 510.00 | 2.00 | 661.00 | 2.00 |
| Houston | 548.00 | 2.50 | 666.50 | 0.50 |
| Fujairah | 555.50 | 5.00 | 746.00 | 2.50 |
| Global 20 Ports Average | 582.50 | 1.50 | 753.00 | 1.50 |
| Global 4 Ports Average | 544.50 | 3.00 | 683.50 | 1.00 |
| Global Average Bunker Price | 631.00 | 2.50 | 803.50 | 2.00 |
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