World News
Maersk Saw Bunker Consumption Gain 7.4% Last Year
Shipping giant AP Moller-Maersk, one of the world's largest consumers of bunker fuel, saw its marine fuels use climb by 7.4% in 2021.
The company consumed a total of 11.09 million mt of marine fuels in 2021, according to financial results released this week, up from 10.322 million mt the previous year.
The company paid an average of $484/mt for its bunkers in 2021, up by 30.1% from the $372/mt average paid the previous year. The global average VLSFO price gained 44.6% on the year to $544.50/mt in 2021, according to Ship & Bunker's G20 Index of prices at 20 leading bunkering ports.
The company saw a decline in fuel efficiency as it recovered from the worst of the COVID-19 pandemic, with bunker consumption per TEU per nautical mile climbing to 41.4g/TEU*NM in 2021 from 40.9 g/TEU*NM the previous year.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 553.50 | 0.00 | 673.00 | 0.00 |
| Rotterdam | 514.50 | 0.00 | 651.00 | 0.00 |
| Houston | 545.00 | 0.00 | 671.00 | 0.00 |
| Fujairah | 543.00 | 0.00 | 747.00 | 0.00 |
| Global 20 Ports Average | 574.00 | 0.00 | 748.00 | 0.00 |
| Global 4 Ports Average | 539.00 | 0.00 | 685.50 | 0.00 |
| Global Average Bunker Price | 627.00 | 0.50 | 799.50 | 1.00 |
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