Shipping operators to face extra expenses due to bunker prices growth amid the crisis – Hapag Lloyd
Average bunker prices have doubled according to CEO of Hapag-Lloyd AG
Amid the current situation worldwide, the growth of bunker prices poses the highest risks for global container shipping operators, Rolf Habben Jansen, CEO of Hapag-Lloyd AG, said at the media conference dedicated to the company’s 2021 results.
According to him, bunker prices have surged from about 500 USD/MT to 1,000 USD/MT.
Hapag Lloyd’s annual bunker consumption is about 4.5 million tonnes, said the company CEO adding that the increase of bunker prices would cause extra expenses of $2-2.5 billion.
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) showed upward evolution on March 09, according to the review contributed to IAA PortNews by Marine Bunker Exchange (MABUX). 380 HSFO - USD/MT is 761.79 (+14.09), VLSFO - USD/MT – 1 032.68 (+15.49), MGO - USD/MT – 1 270.94 (+56.34).
Meanwhile, bunker prices in the port of Saint-Petersburg are as follows: 380 HSFO - $585, VLSFO – $875-935, MGO – $1240-1260, ULSFO - $1115.
Hapag-Lloyd is a leading global liner shipping company. Hapag-Lloyd AG is the fifth largest container carrier in the world in terms of ship capacity. The company was founded in 1970 as a result of the merger of two German companies specializing in maritime transport – Hamburg-Amerikanische Packetfahrt-Actien-Gesellschaft, founded in 1847 and Norddeutscher Lloyd (NDL), which was founded in 1856.
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