bunker costs Archives - Maritime Shipping News

Maersk CEO’s View on Zero Carbon Fuel Target

23 February 2021

Shipping and logistics giant AP Moller-Maersk expects the shift to zero-carbon fuels roughly to double its bunker costs, says an article published in ship & bunker.

Soren Skou Comments

The firm spent $3.835 billion on its bunker consumption last year, down from $4.566 billion the previous year.

CEO Soren Skou expects “we have to spend maybe double that amount” once it is buying zero-carbon fuels, news agency the BBC cited him as saying on Friday.

The company’s average bunker price was $372/mt last...

https://mfame.guru/maersk-ceos-view-on-zero-carbon-fuel-target/

[Infographic] Bunker Prices Crumble Amid COVID Pandemic

18 October 2020

The average price paid for bunkers in major ports over the first nine months of 2020 has fallen 10% compared to the same period in 2019, reports Ship & Bunker.

Bunker costs climb high

The average price for IFO380 in Ship & Bunker’s Global Top 20 Port Port index (G20) for January to September 2019 was $421/mt.

With the introduction of the IMO 2020 rule on January 1 meaning the majority of vessels switched to lifting max 0.50%S product, the average G20 VLSFO price over the first nine months of 2020...

https://mfame.guru/infographic-bunker-prices-crumble-amid-covid-pandemic/

Higher costs hurt Hapag-Lloyd more than coronavirus in Q1

24 May 202015 May 2020

While what Hapag-Lloyd called the “economic consequences” of the coronavirus pandemic won’t begin to be understood until at least the end of the second quarter, the German container line said it has the liquidity to remain financially healthy.

Hapag-Lloyd said what did sting in the first quarter of 2020 was higher costs.

For the first quarter of 2020, Hapag-Lloyd recorded earnings before interest and taxes (EBIT) of $176 million (€160 million), down $67 million year-over-year from the $243...

https://s29755.pcdn.co/news/higher-costs-hurt-hapag-lloyd-more-than-coronavirus-in-q1