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 | 646.50 | 5.50 | 773.50 | 11.50 |
| Rotterdam | 604.00 | 5.00 | 756.00 | 5.00 |
| Houston | 630.50 | 1.00 | 798.50 | 4.00 |
| Fujairah | 650.50 | 3.00 | 897.00 | 13.50 |
| Global 20 Ports Average | 662.50 | 1.00 | 858.50 | 0.50 |
| Global 4 Ports Average | 633.00 | 3.50 | 806.00 | 6.50 |
| Global Average Bunker Price | 718.50 | 0.50 | 914.00 | 1.00 |
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