Hapag-Lloyd Reports 1.1% Yearly Gain in Q1 Bunker Consumption

by Ship & Bunker News Team
Thursday May 12, 2022

Container line Hapag-Lloyd's bunker consumption gained 1.1% on the year in the first quarter.

The firm reported bunker consumption of 1.06 million mt in the first quarter of 2022, up from 1.05 million mt in the same period a year earlier. Bunker consumption per slot rose to 2.43 mt, up from 2.41 mt a year earlier.

"This increase was essentially caused by a rise in vessel capacity compared with the prior year period and longer waiting times at and outside of ports," the firm said in a quarterly results statement on its website.

The firm paid an average of $613/mt for its bunkers in the first quarter, up from $384/mt a year earlier.

"Due to the clearly increased commodity price level factored into the forecast as well as the consumption volumes expected for the rest of the financial year, the negative effects of a rise in the bunker consumption price on the financial and earnings situation for this risk are now, based on the forecast assumptions, classified as severe," the company said.