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SeaIntel: Toxic mix rapidly draining carriers

Growing fuel costs combined with low rates have drained the 15 largest container carriers of a total USD 1.5 billion in the second and third quarters.

Photo: Hapag-Lloyd

A toxic mix of low rates and growing costs for fuel are draining container carriers of liquidity at an alarming pace. The increase in bunker costs alone represents a burden on 15 major container carriers worth USD 600 million in the third quarter.

For the second and third quarters, the extra cost is a total of USD 1.5 billion after an increase of 76 percent in the bunker price since February 2016, projects SeaIntel Maritime Analysis in its latest newsletter Sunday Spotlight.

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