Even with slow steaming and economies of scale of bigger containerships, fuel is still a significant cost for carriers, amounting to about 60-70 percent of a voyage across the Pacific, recently noted Brian Conrad, Transpacific Stabilization Agreement executive director.
Bunker fuels jumped from $450 per ton in September 2010 to $745 per ton in early 2012, and contributed to the poor financial results of carriers, Conrad said during a panel discussion at the TPM 2013 conference in Long Beach, Calif.
He predicted fuel prices will remain volatile, probably in the $600-to-$700 a ton range for the foreseeable future.
Even bigger fuel challenges ahead
