World News
Maersk Q2 Bunker Consumption Drops by 2.7% as Fuel Costs Surge by 69%
Wednesday August 3, 2022
Container shipping firm AP Moller-Maersk saw its bunker consumption slip by 2.7% in the second quarter as its fuel costs surged by 69%.
The firm consumed 2.65 million mt of bunker fuel in the second quarter, up from 2.73 million mt a year earlier, it said in an earnings release on Wednesday. At the same time, bunker costs jumped to $2.19 billion, up from $1.3 billion a year earlier.
Maersk paid an average of $827/mt for its fuel in the second quarter, an increase of 74% on the year. Ship & Bunker's G20 index of average VLSFO prices at 20 leading bunkering ports jumped by 87.6% in the same period.
The firm's bunker consumption per transport work advanced by 2.2% on the year to 41.9 g/TEU*NM.
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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