World News
Carnival Expecting 2016's Average Bunker Price to be Under $250/mt
Carnival Corporation & plc (Carnival) Friday announced its adjusted earnings per share rose 40 percent for FY2015 ended November 30, aided by significantly lower fuel costs during the year - a situation expected to carry throughout 2016 with an average bunker price of under $250 per metric tonne (pmt).
Carnival's earnings for the year totaled $2.70 per share, as compared to $1.93 for FY2014.
The company said its fuel prices for the fourth quarter declined by 46 percent to $316 pmt, from $584 pmt in Q4 2014.
It was said that fourth quarter fuel prices were also below the company's previous guidance of $366 pmt.
The company noted that fuel prices, net of fuel derivatives, along with currency exchange rates are expected to add $0.22 to per-share earnings in 2016, as compared to 2015.
Carnival forecast a fuel price of $239 pmt for the first quarter of 2016, and a price of $246 pmt for the coming year as a whole.
Total FY2016 bunker consumption is anticipated at 3,260,000 mt, compared to 3,181,000 mt consumed in FY2015.
In June 2015, Ship & Bunker reported that Carnival had signed contracts to build the world's largest-capacity cruise ships, powered by liquefied natural gas (LNG) bunkers.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 504.50 | 2.50 | 620.00 | 3.00 |
| Rotterdam | 456.00 | 1.50 | 621.50 | 2.00 |
| Houston | 476.00 | 7.00 | 624.00 | 1.00 |
| Fujairah | 496.50 | 2.00 | 713.00 | 2.50 |
| Global 20 Ports Average | 526.50 | 0.50 | 712.00 | 0.50 |
| Global 4 Ports Average | 483.00 | 2.00 | 644.50 | 0.50 |
| Global Average Bunker Price | 570.50 | 1.50 | 751.00 | 1.00 |
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