|Maersk spent $1.5bn more on bunkers in 2021|
|Average fuel price jumped 30.1% to $484 per tonne.
|Image credit: Maersk|
|Updated on 14 Feb 2022 11:54 GMT
|A.P. Moller - Maersk reports that its Ocean segment spent $1.534bn more on bunker fuel in 2021 compared to the previous year.
The boxship operator's total annual spend on marine fuels rose by 40 percent to $5.369bn last year, up from $3.835bn in 2020.
The average bunker price paid by Ocean in 2021 was $484 per tonne - a rise of $112, or 30.1 percent, on the $372-per-tonne figure recorded in 2020.
In terms of bunker consumption, Ocean purchased 11.09m metric tonnes of marine fuel last year, representing a year-on-year (YoY) increase of 768,000 tonnes, or 7.4 percent.
Maersk: Bunker costs, 2017-2021
Maersk: Average bunker price, 2017-2021
Maersk: Bunker consumption, 2017-2021
Key financial results for 2021
In its financial results for the year, Ocean reported operating earnings (EBITDA) of $21.432bn, which was a YoY improvement of $14.887bn.
Revenue during the 12-month period rose by $19.057bn, or 65.3 percent, to $48.232bn.
As regards overall group performance, A.P. Moller - Maersk posted a net underlying profit of $18.17bn - a rise of $15.21bn on the previous year's result.
Guidance for 2022
In its guidance for 2022, Maersk said a $100 change in the price of bunker fuel would lead to the group's EBIT varying by $0.5bn.