World News
Hapag-Lloyd Increases HSFO Use as Overall Bunker Consumption Slips
Container line Hapag-Lloyd has reported increasing its use of HSFO in the first quarter of this year as its overall bunker consumption declined.
The firm's total bunker consumption was 1.03 million mt in the first three months of 2023, down by 2.8% on the year, it said in a results statement on Thursday. Bunker consumption per container slot was 0.36 mt/TEU, little changed on the year.
The share of VLSFO, ULSFO, MDO and LNG in its overall bunker consumption was 83% in the first quarter, down from 89% a year earlier.
This was "due to the fitting of more vessels with scrubbers," the company said.
Hapag-Lloyd saw an average bunker consumption price of $645/mt in the first quarter, up from $613/mt a year earlier.
Ship & Bunker's Q1 average for the G20-VLSFO Index of prices across 20 leading bunkering ports was $649/mt, down from $784.50/mt a year earlier.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
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