World News
Maersk Q3 Bunker Consumption Drops by 4.8% on Year
Denmark's AP Moller-Maersk, the world's second-largest container line, saw its bunker consumption drop by 4.8% in the third quarter of 2022 as the average price it paid surged by 77.6%.
The firm consumed a total of 2.68 million mt of bunkers in the three months to September 30, it said in an earnings release on Wednesday, up from 2.82 million mt a year earlier.
At the same time, the average bunker price the firm gained jumped to $895/mt from $504/mt a year earlier. Total bunker costs climbed by 69.3% to $2.4 billion.
Ship & Bunker's G20-VLSFO index of average VLSFO prices across 20 leading bunkering ports averaged $844.50/mt in the third quarter, up by 53.5% from Q3 2021 but down by 14.2% from Q2 of this year.
Maersk's bunker consumption per transport work, a measure of fuel efficiency, jumped by 5.7% on the year to 43.05 g/TEU*NM.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
Popular Now More
-
Nov 21CCO Christoffer Berg Lassen is stepping down from the company to be replaced by Anders Grønborg, while Peder Møller becomes its first chief operating officer. -
Nov 20The ISO 6853:2024 specifications, the first of their kind, cover the general requirements and properties for methanol specifically being used as marine fuel. -
Nov 21CTI-Maritec reports on undeclared quantities of cashew nut shell liquid found in VLSFO samples from Rotterdam and Singapore.