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US cruise operator Carnival Corporation & plc (Carnival) has recorded a rise in bunker costs in its financial results for the third fiscal quarter of 2017, which runs between June 1 and August 31.

Bunker fuel expenses rose from last year's figure of $265 million to $307 million, representing an increase of $42 million, or 15.8 percent.

For the first nine months of the company's fiscal year (between the start of December and end of August), Carnival saw bunker costs increase $266 million, or 41.0 percent, to $914 million, up from last year's figure of $648 million.

Bunker fuel consumption for the third quarter was 814,000 tonnes - 2.6 percent higher than the 793,000-tonne amount consumed during the prior-year period.

The ferry operator's vessels burned 2,463,000 tonnes during the first nine months of the year, compared to 2,417,000 tonnes in 2016.

The company paid an average of $378 per metric tonne (pmt) over the three-month period between June and August, compared to $335 pmt during the same quarter in 2016 - representing a rise of $43 pmt, or 12.8 percent.

Over the nine-month period between December and August, Carnival's average bunker cost was $371 pmt - a year-on-year (YoY) increase of $103, or 38.4 percent.

2017 forecast

Below is Carnival's fuel price and fuel consumption forecast for 2017.

Fourth-quarter 2017 forecast

Fuel price per metric tonne: $397

Fuel consumption (metric tonnes): 840,000

Full-year 2017 forecast

Fuel price per metric tonne: $378

Fuel consumption (metric tonnes): 3,305,000

Financial results

In its key results for the third fiscal quarter of 2017, Carnival posted a net income of $1,329 million - $95 million, or 6.7 percent, lower than last year's figure of $1,424 million. Net income for the first nine months was at $2,060 million compared to $2,171 in the prior-year period.

Revenue for the third quarter of 2017 was $5,515 million - $418 million, or 8.2 percent, higher than the $5,097 million achieved in 2016. Nine-month revenue rose to $13,251 million, compared to last year's $12,454 million result.

Commenting on the third quarter, Arnold Donald, Carnival Corporation & plc President and Chief Executive Officer, said: "We delivered another consecutive quarter of strong operational improvement and another third quarter adjusted earnings record. Our ongoing efforts to create demand well in excess of measured supply growth helped to drive five percent higher cruise ticket pricing."