Sign up
Log in Sign up
Thu 28 Jul 2011 07:58

Higher bunker costs hit Canadian firm


Year-on-year logistics costs rise as a result of higher bunker prices.

Vancouver-based Methanex Corporation has revealed that its logistics costs rose during the second quarter and first half of 2011 in a comparison with the corresponding periods in 2010, mainly due to higher bunker costs.

In its latest financial results, methanol supplier Methanex reported that for the second quarter of 2011 and the six month period ended June 30 2011, year-on-year logistics costs were higher by $5 million and $14 million, respectively, due primarily to higher marine fuel prices.

Logistics costs were said to be similar for the second quarter of 2011 in a comparison with the first quarter of 2011.

The table below shows how the monthly global bunker average has risen since January 2010. Prices are in US$ per metric tonne.

Month BIX Average +/- ($) +/- (%)
June 2011 823.19 +1.11 +0.01%
May 2011 822.08 -24.57 -2.9%
Apr 2011 846.65 +46.40 +5.8%
Mar 2011 800.25 +71.17 +9.8%
Feb 2011 729.08 +62.34 +9.3%
Jan 2011 666.74 +29.67 +4.7%
Dec 2010 637.07 +20.86 +3.4%
Nov 2010 616.21 +16.06 +2.7%
Oct 2010 600.15 +27.50 +4.8%
Sep 2010 572.65 -7.99 -1.4%
Aug 2010 580.64 +9.87 +1.7%
Jul 2010 570.77 -4.84 -0.8%
Jun 2010 575.61 -15.48 -2.6%
May 2010 591.09 -0.58 -0.1%
Apr 2010 591.67 +24.99 +4.4%
Mar 2010 566.68 +17.45 +3.2%
Feb 2010 549.23 -18.82 -3.3%
Jan 2010 568.05 +17.30 +3.1%


Net income attributable to shareholders for the period was $40.5 million ($0.43 per share on a diluted basis) compared to $34.6 million ($0.37 per share on a diluted basis) for the first quarter of 2011.

Methanex is the world's largest supplier of methanol to major international markets and a publicly traded company.

Shares of Methanex are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol "MX", on the NASDAQ Global Market in the United States under the trading symbol "MEOH", and on the foreign securities market of the Santiago Stock Exchange in Chile under the trading symbol "Methanex".

Lease agreement between Inter Terminals Sweden and the Port of Gothenburg, signed on July 1st. Pictured: Göran Eriksson, CEO of the Port of Gothenburg (left) and Johan Zettergren, Managing Director of Inter Terminals Sweden (right). New Gothenburg lease an opportunity to expand green portfolio: Inter Terminals  

Bunker terminal operator eyes tank conversion and construction projects for renewable products.
Map of US Gulf. Peninsula extends US Gulf operation offshore  

Supplier to focus on Galveston Offshore Lightering Area (GOLA) in strategy to serve growing client base.
The M/T Jutlandia Swan, operated by Uni-Tankers. Uni-Tankers vessel gets wind-assisted propulsion  

Fourth tanker sails with VentoFoil units as manufacturer says suction wing technology is gaining traction.
Port of Gothenburg Energy Port. Swedish biomethane bunkered in Gothenburg  

Test delivery performed by St1 and St1 Biokraft, who aim to become large-scale suppliers.
Image from Cockett Marine Oil presentation. Cockett to be closed down after 45 years  

End of an era as shareholders make decision based on 'non-core nature' of Cockett's business.
Petrobras logo. Petrobras confirms prompt availability of VLS B24 at Rio Grande  

Lead time for barge deliveries currently five days.
Opening of the IMO Marine Environment Protection Committee (MEPC), 83rd Session, April 7, 2025. IMO approves pricing mechanism based on GHG intensity thresholds  

Charges to be levied on ships that do not meet yearly GHG fuel intensity reduction targets.
Preemraff Göteborg, Preem's wholly owned refinery in Gothenburg, Sweden. VARO Energy expands renewable portfolio with Preem acquisition  

All-cash transaction expected to complete in the latter half of 2025.
Pictured: Biofuel is supplied to NYK Line's Noshiro Maru. The vessel tested biofuel for Tohoku Electric Power in a landmark first for Japan. NYK trials biofuel in milestone coal carrier test  

Vessel is used to test biofuel for domestic utility company.
Pictured (from left): H-Line Shipping CEO Seo Myungdeuk and HJSC CEO Yoo Sang-cheol at the contract signing ceremony for the construction of an 18,000-cbm LNG bunkering vessel. H-Line Shipping orders LNG bunkering vessel  

Vessel with 18,000-cbm capacity to run on both LNG and MDO.

↑  Back to Top


 Recommended