Hapag-Lloyd, a container line, has reported a decline in overall bunker consumption but an increase in the use of high-sulfur fuel oil (HSFO) in the first quarter of 2023, as reported by Ship & Bunker.
The company’s total bunker consumption was 1.03 million metric tons, down 2.8% compared to the previous year. The share of very low sulfur fuel oil (VLSFO), ultra-low sulfur fuel oil (ULSFO), marine diesel oil (MDO), and liquefied natural gas (LNG) in its bunker consumption decreased from 89% to 83% due to the installation of scrubbers on more vessels. Hapag-Lloyd observed an average bunker consumption price of $645/mt, higher than the previous year’s $613/mt. The Q1 average for the G20-VLSFO Index was $649/mt, down from $784.50/mt a year ago.
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Source: Ship & Bunker