World News
Hapag-Lloyd Saw 0.6% Slip in Bunker Consumption in 2019
German shipping company Hapag-Lloyd saw a 0.6% drop in its bunker fuel consumption in 2019, the company said Friday.
Total consumption dropped to 4.377 million mt in 2019 from 4.404 million mt a year earlier, the company said in an earnings release.
High sulfur fuel oil consumption dropped by 4.8% to 3.658 million mt, while low sulfur bunker consumption surged by 27.7% to 718,066 mt, the company said.
Total bunker consumption per twenty-foot equivalent unit (TEU) transported dropped by 0.1 mt/TEU to 0.36 mt/TEU.
The company paid $416/mt on average for its bunkers in 2019, down from $421/mt the previous year, it said.
Hapag-Lloyd said in the release that it expects its average bunker price to "increase significantly" in 2020 compared with 2019.
This guidance may have been written before this month's collapse in crude prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 556.50 | 9.00 | 685.00 | 6.50 |
| Rotterdam | 506.00 | 6.00 | 665.00 | 11.00 |
| Houston | 552.50 | 0.50 | 682.00 | 4.00 |
| Fujairah | 548.00 | 7.50 | 750.00 | 3.00 |
| Global 20 Ports Average | 583.50 | 4.00 | 762.50 | 2.50 |
| Global 4 Ports Average | 546.50 | 4.50 | 697.50 | 2.50 |
| Global Average Bunker Price | 632.50 | 2.00 | 811.00 | 1.50 |
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