News / Despite 'vessel network efficiencies', fuel price still the unknown factor for carriers

© Khunaspix Dreamstime.

The success of Maersk Line in cutting its unit cost by a massive $390 per 40ft unit in the third quarter was the silver bullet that put an ocean of competitive market advantage between the Danish carrier and its rivals.

This equated to a 13% year-on-year reduction in costs against a backdrop of a 12.2% decrease in average freight rates.

“Vessel network efficiencies” is the preferred term from Maersk executives, and relates primarily to 7.8% lower bunker consumption in the quarter, compared ...