Wed 30 Oct 2013, 15:34 GMT

Fuel costs rise for Norwegian Cruise Line


Bunker expenses increase by over 10 percent during the third quarter compared to last year.



Norwegian Cruise Line (NCL) has confirmed that fuel expenses rose from $69,602,000 to $77,035,000 during the third quarter of 2013 compared to the corresponding period in 2012, representing a rise of $7,433,000, or 10.7 percent.

In a comparison of fuel costs during the first nine months of the year, bunker expenses were 225,115,000 in 2013 compared to 206,743,000 in 2012, indicating a year-on-year increase of $18,372,000, or 8.9 percent.

According to NCL, the average fuel price, net of hedges, increased 2.4 percent to $695 per metric tonne during the third quarter of 2013 compared to $679 in 2012. The increase was partially offset by fuel consumption efficiencies particularly from the addition of Norwegian Breakaway to the fleet, NCL said.

Please find below a summary of the company's expectations regarding fuel consumption and pricing, along with accompanying sensitivities, during the fourth quarter and full year 2013.

Description Q4 2013 Full Year 2013
Fuel consumption in metric tonnes 125,000 455,000
Fuel price per metric tonne $655 $680
Effect on Adjusted EPS of a 10% change in fuel prices, net of hedges (in thousands) $0.01 $0.01

Using the above forecast, fuel expenses would be $81,875,000 for the fourth quarter and 309,400,000 for the full year 2013.

As of September 30, 2013, the company said it had hedged approximately 93%, 64%, 51% and 15% of its remaining 2013, 2014, 2015 and 2016 projected fuel purchases, respectively.

Image: Norwegian Star.


Hamburg Express vessel. Hapag-Lloyd wins ZEMBA's second tender for e-methanol deployment  

Container line to deploy e-methanol on trans-oceanic route from 2027, abating 120,000 tonnes CO₂e.

Nuclear-powered multi-role icebreaker design render. RINA grants approval for Chinese nuclear-powered Arctic icebreaker design  

CSSC's multi-role vessel combines cargo transport and polar tourism with molten salt reactor propulsion.

Glander International Bunkering logo. Glander International Bunkering seeks two bunker traders for Singapore office  

Firm recruiting traders with 3-5 years of experience to join team in key Asian hub.

Hiring concept with puzzle pieces. Malik Supply seeks bunker trader for Fredericia office  

Danish company advertises role focusing on client portfolio development and energy product trading.

Hiring concept with puzzle pieces and a magnifying glass. Chimbusco Pan Nation seeks credit analysts for Asia-Pacific and Middle East expansion  

Bunker firm recruiting for Hong Kong, Singapore, and Shanghai offices with APAC and MENA focus.

Wärtsilä 20DF small dual-fuel engine render. Wärtsilä to supply biodiesel-capable engines for AMAGGI's two new Amazon pusher tugs  

Brazilian operator orders fuel-flexible engines for vessels designed to push 20 barges on inland waterways.

Fluvius Tavy vessel. Amasus installs second bound4blue wind sail on general cargo vessel  

Dutch shipowner installs what is said to be the largest suction sail ever fitted to a general cargo vessel.

Vasileios Analytis, Burando Energies. Burando Energies appoints Vasileios Analytis as commercial director in Dubai  

Marine fuel trader promoted following expanded trading activity and commercial development.

Japan Engine Corporation (J-ENG) logo. J-ENG starts development of methanol-fuelled marine engine  

Japanese engine maker targets 2027 completion for UEC50LSJM model following ammonia and hydrogen engine projects.

Mureloil 8,000-dwt vessel render. AYK Energy secures second battery contract with Mureloil for chemical tankers  

Spanish ship owner orders hybrid propulsion systems for two 8,000-dwt vessels transporting biofuels and methanol.





 Recommended