Sign up
Log in Sign up
This is a legacy page. Please click here to view the latest version.
Tue 31 Jul 2018, 11:38 GMT

Iino Lines posts profit growth; average bunker price jumps 21.7% YoY


Q2 price prediction revised upwards by $50 compared to April forecast.

Japanese flag on a brick wall.
Image credit: Pixabay
Iino Kaiun Kaisha (Iino Lines) reports that the average bunker price paid during the firm's first fiscal quarter (Q1), which runs between April and June, rose year-on-year (YoY) by $69, or 21.7 percent, to $387 per metric tonne, up from $318 per tonne during the corresponding period in 2017.

In a sequential comparison with the previous quarter's average of $337 per tonne, the result is $50, or 14.8 percent, higher.

Iino Lines has now revised its forecast price for Q2 upwards to $460 per tonne, which is a $50, or 12.2 percent, increase on the previous $410 prediction in April.

The revised Q2 price is also $73, or 18.9 percent, above the $387-per-tonne bunker average recorded in Q1.

In its key results for Q1, Iino Lines' consolidated profit attributable to owners rose YoY by 256.2 percent to JPY 3,583 million ($32.1m).

Also, net sales increased YoY by 1.5 percent to JPY 20,831m ($186.9m); operating income was up 44.2 percent YoY to JPY 1,832m ($16.4m); and ordinary income climbed 89.6 percent to JPY 2,015m ($18.1m).

Jeroen De Vos, Peninsula. Peninsula lauds appointment of Jeroen De Vos as IBIA vice chair  

De Vos has served on the bunker industry association’s board of directors since 2023.
Anemoi and CHI framework agreement signing. Anemoi and Cosco Shipping Heavy Industry renew rotor sail framework agreement  

Expanded partnership offers turnkey wind propulsion installation services across CHI’s Chinese shipyard network.
Maersk vessel render. Maersk orders eight 18,600-teu dual-fuel vessels for 2029-2030 delivery  

A.P. Moller-Maersk signs shipbuilding agreement with New Times Shipbuilding in China.
Yara Eyde vessel render. Oslo Port launches weekly container service ahead of ammonia-powered vessel deployment  

North Sea Container Line starts route with conventional ship before introducing Yara Eyde later in 2026.
Officials during a ribbon-cutting ceremony at Stena Line. Stena Line completes acquisition of Wasaline ferry operator  

Swedish ferry company takes over Umeå–Vaasa route operator, adding biogas-powered vessel to its network.
Attendees during a Maritime CleanTech seminar in Bergen. Ammonia bunkering moves from pilots to structured implementation, Norway seminar hears  

H2SITE says Norway is advancing with Enova-backed initiatives, and the first dedicated bunkering vessels are expected from 2027.
Aerial photograph of Zhoushan Island. China approves Zhoushan Port FTZ expansion to boost commodity trading  

Expansion adds 0.98 sq km, bringing total zone area to 6.12 sq km.
Graphic with photographs of IBIA's four elected board members for 2026. IBIA elects four board members for three-year terms  

Beumer, Campanella, Chung and Draffin join the board from 1 April 2026.
Iceberg floating in Arctic waters. IMO members urged to back mandatory Arctic fuel standards to cut black carbon emissions  

Clean Arctic Alliance calls for polar fuel measure requiring cleaner fuels in Arctic waters.
AET’s hybrid electric vessel render. AET adds hybrid-electric shuttle tanker to fleet with dual-fuel capability  

Tanker operator brings first hybrid-electric DPST into service on long-term charter with lower-emissions technology.

↑  Back to Top


 Recommended