Bunker Costs
In maritime context, bunker costs refer to the expenses associated with purchasing fuel for ships. The term 'bunker' is derived from the containers on ships where fuel is stored, known as 'bunkers'. The cost of bunkers is a significant part of the operating expenses of a ship, often making up around 40-50% of the total costs. Bunker costs can fluctuate greatly depending on the global oil market, the type of fuel used, and the regulations in place regarding marine fuels. For instance, the introduction of the International Maritime Organization's (IMO) regulations on low sulphur fuels has led to an increase in bunker costs, as these fuels are more expensive than traditional marine fuels. Bunker costs are usually calculated per metric tonne and can vary depending on the port where the fuel is purchased. Therefore, ship operators often have to carefully plan their routes and fuel purchases to minimize bunker costs.
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