World News
Hapag-Lloyd Reports 3.3% Gain in Year-to-Date Bunker Consumption
Container line Hapag-Lloyd saw a 3.3% increase in its bunker fuel consumption in the first nine months of 2021 compared with a year earlier.
The firm used about 3.15 million mt of bunkers in the nine months to September 30, it said in an earnings release on Friday, up from about 3.05 million mt in the same period of 2020. Its consumption included 1,972 mt of LNG.
"This increase was essentially caused by a rise in ship capacity and transport volume compared with the prior year period, the additional NileDutch fleet and longer waiting times at and outside of ports," the company said in the statement.
The firm paid an average of $452/mt for its fuel in the first nine months of the year, up by 12.4% from the $402/mt seen in the same period of 2020. Global average VLSFO prices gained 38.4% in the same period to $520.50/mt, according to Ship & Bunker's G20 Index of prices at 20 leading bunkering locations.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 570.00 | 1.00 | 683.00 | 2.50 |
| Rotterdam | 515.50 | 1.00 | 685.00 | 7.50 |
| Houston | 555.00 | 1.00 | 678.00 | 1.00 |
| Fujairah | 563.00 | 2.00 | 754.50 | 0.50 |
| Global 20 Ports Average | 587.50 | 1.50 | 765.00 | 0.50 |
| Global 4 Ports Average | 551.00 | 1.00 | 700.00 | 1.00 |
| Global Average Bunker Price | 634.50 | 1.00 | 812.50 | 1.00 |
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