BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry



« News Home
:: Monthly Archive

News Topics
:: Air Pollution
:: Agreements & M&A's
:: Alternative Fuels
:: BunkerBlog
:: Cargoes & Storage
:: Company News
:: Efficiency, Costs & Charges
:: Environment
:: Events
:: Financial
:: Fuel Quality & Testing
:: Lubes & Additives
:: Oil Spills
:: People
:: Port News
:: Projects
:: Regulation, Legal
:: Services, Products,Technology
:: Statistics & Research
:: Vessels

Regional Archive
:: Americas
:: Asia/Oceania
:: Europe
:: M.East/Africa


BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
Home » News





MOL sees average bunker price jump 23% in Q3

31 Jan 2018 12:05 GMT

Japanese shipowner paid an average $376 per tonne in the third fiscal quarter.



Mitsui O.S.K. Lines (MOL) reports that the average bunker price paid by its fleet of vessels during the third quarter (Q3) of the current fiscal year rose by more than $70 per tonne compared to the same period 12 months earlier.

Between October and December, MOL paid an average of $376 per tonne, which was an increase of $71, or 23.3 percent, on the $305-per-tonne figure recorded during the corresponding period in 2016.

For the first nine months (April 1 to December 31), meanwhile, MOL's average bunker price rose by $76, or 28.7 percent, to $341 per tonne, up from $265 per tonne the year before.

Forecast

In its Q4 forecast, the Japanese firm predicts that its average bunker price will be $380 per tonne, which would be a year-on-year (YoY) increase of $41, or 12.1 percent.

MOL's prediction for the second half (H2) of 2017 is $378 per tonne, which would represent a YoY rise of $57, or 17.8 percent.

In its full-year outlook, MOL forecasts the average bunker price will reach $351 per tonne, which is $15 higher than the company's previous forecast of $336 per tonne and is $67, or 23.6 percent, above the $284-per-tonne average bunker price recorded in fiscal year 2016.

H1, Q1, Q2

MOL previously announced last year that its average bunker price in H1 rose YoY by $81, or 33.6 percent, to $322 per tonne.

In Q2, MOL paid an average of $325 per tonne - a YoY jump of $68, or 26.5 percent.

MOL's average bunker price in Q1 was $319 per tonne, which was a YoY increase of $93, or 41.2 percent.

Results

In its overall results for Q3, MOL posted a net income of JPY 16.1 billion ($148 million) compared to JPY 2.9 billion last year.

For the nine-month period between April and December, MOL's net income was JPY 29.2 billion - a YoY improvement of JPY 10.2 billion, or 53.7 percent.






Related Links:

MOL signs deal to build LNG-fuelled tugboat
MOL pays 41% more for bunkers in Q1, revises FY fuel price forecast down 6.6%
Green Corridor project develops LNG-fuelled Newcastlemax design
Bunker-saving windshield for boxships yields 2% CO2 reduction: MOL
Singapore and Japan to conduct LNG bunkering study for car carriers

Latest News:

Furukawa Battery certified as approved supplier of marine batteries
Quadrise: Fuel production system commissioned in Saudi Arabia
Is oil heading for the 70s or lower 60s?
Oil and fuel oil hedging market update
FIS expecting strong HSFO paper liquidity 'right up to deadline day' in 2020 and beyond
GTT hails 'great start to the year' with LNG tank orders
Rotterdam posts lowest calendar year bunker sales of the 2010s
Bomin to launch physical supply of ULSFO in ARA region
Viking Line's bunker costs jump 18.3% in 2017
Vopak's net profit dips 12% in 2017
Odfjell posts rise in FY and Q4 2017 bunker costs
Oil and fuel oil hedging market update




Page Links:

Prices
Africa
Asia
Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Commentaries
Futures
Prices
Antwerp
Busan
Cape Town
Fujairah
Houston
Istanbul
Kaohsiung
Las Palmas
Maracaibo
New Orleans
Piraeus
Rio
Rotterdam
Santos
Singapore
News
Latest News
Blogs
Archive
Americas
Asia
Europe
Middle East
News
Air Pollution
Agreements & M&A's
Alternative Fuels
Cargoes & Storage
Efficiency, Costs & Charges
Environment
Events
Financial
Fuel Quality
Lubes & Additives
Oil Spills
People
Port News
Projects
Regulation/Legal
Services, Products, Technology
Statistics & Research
Vessels
Contact & Terms
Contact Us
Advertise
Terms & Conditions
Privacy Policy
Events
Upcoming Events