German container line Hapag-Lloyd‘s fleet bunkered about 2.5 million mt of bunker fuels in 1H 2025, up by 7.6% from the same period last year.

The period was marked by market volatility driven by US tariff policy, disruptions at key seaports, and ongoing tensions in the Red Sea, Hapag-Lloyd said in its half-yearly financial report.

Despite higher bunker consumption, Hapag-Lloyd’s bunker and emissions expenses dropped in 1H 2025, which was primarily due to lower bunker costs.

The firm reported bunker expenses of €1.23 billion in 1H 2025, down by €42.4 million from the same period last year. 

However, this was partly offset by higher costs for EU emissions allowances, which rose to €67.7 million from €42.9 million for the same period a year earlier.

The company’s average bunker price in the 1H 2025 was $542/mt, down from $601/mt in the same period last year.

“The US tariff policy is contributing significantly to increased uncertainty and volatility in demand and freight rates,” Hapag-Lloyd said.

“It remains unclear when passage through the Red Sea will be safe again, meaning that increased transport costs are to be expected in the future due to the necessary diversion of vessels around the Cape of Good Hope.”