Bunker prices and grades

In a period of high oil prices, cost of bunkers may be more than 70% of a ship’s total voyage cost. In Maritime Optima you will find bunker prices, grades, and which bunker grades are available in ports and you can compare the prices with other ports nearby or ports along your route. We will also nudge you to reduce your carbon emissions.

Find bunker prices, grades and bunker availability in ports

In a period of high oil prices, the cost of bunkers may be more than 70 % of a ship’s total voyage cost. It is self-explanatory how critical bunker prices may be in parallel with the selected type of charter. The optimisation of bunker quantity in relation to how much cargo the vessel can load is always of utmost importance. The geographical optimisation of bunkering in order to avoid deviations is also crucial for the earning potential.

Bunkers risk also have quality issues. The optimal choice of a bunkering company ensures the good quality of fuel for the ship in order to avoid a damaged engine.

New carbon emission regulations push the ship owners to reduce their carbon emissions per cargo ton-mile, and bring a new type of risk into the bunker discussion.

In Maritime Optima you will find bunker prices, grades, and which bunker grades are available in ports and compare the prices with other ports nearby or ports along your route. You will find information on bunker availability, grades and prices several places:

1. Bunker information in the bunker price section

You can compare bunker prices between ports along your route or bunker prices for different grades within a port:

So if you plan for a voyage where bunker options are Singapore, Fujairah, Gibraltar or Rotterdam, select those ports and view how much the prices has fluctuated and the price differences in the ports.

Later we will also make a bunker forecast and it will be possible to optimize bunker intake vs. cargo intake in the voyage calculation section.

2. Bunker information details if bunker is provided in a port

You will find the prices and which grades are available in each port and last time the prices were quoted. The prices are delivered by BunkerEx.

3. On any of the ports you hover over in the map

If bunkers are available in a port, you will find information on prices for the bunker grades available and an indication whether prices tend to move up or down:

4. Bunker information in the voyage calculations

A voyage calculation might be the most important place for bunker risk discussions since there are so many aspects influencing the bunker consumption and bunker costs in a voyage like; which sea route you select, weather, trading in ECA/SECA zones, cargo available, freight, hull design and hull maintenance, loaded or ballast condition etc.

Since emission controls already have become a driver for change, carbon emissions also have to be included in the voyage calculations so cargo emission per voyage can be considered when making a chartering decision. Therefore we aim to show carbon emissions per voyage and per cargo ton-mile as an option when you do voyage calculations.

Maritime intelligence driven by knowledge and quality data

We will continue developing Maritime Optima based on feedback from the users. As a part of optimising bunker intake in a voyage calculation, we have also started developing a bunker forecast.

We will share knowledge and challenges we face while working so we hope you will enjoy reading our blog posts posted regularly, and here si one blogpost which we think you might be interested in: Exploratory data analysis of bunker prices

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