Back to sailing?

For a week now crude oil prices have hit and passed the level of $60 a barrel on the world markets. Remember that not so many years ago a barrel of crude was just $20-25?

What does this mean for megayacht owners? The bunker prices follow closely the world market price of crude oil (like the prices at your gas station). So megayacht owners (and charter guests) will have to face higher costs for fuel.

Yesterday in Rotterdam a gallon of MDO (Marine Diesel Oil) used by the larger yachts was at $483 per metric ton. As a metric ton of MDO is about 1100 litres or 290 US Gallons you can make out the price for yourselves.

For those yachts using the lighter diesel oil called MGO (Marine Gas Oil) the Rotterdam price was yesterday $532. MGO has a lower specific gravity than MDO so one metric ton of MGO is almost 1200 litres or 310 US Gallons.

All prices are duty not paid which most yachts can use - at least commercial yachts - on international voyages.

So now for our traditional mathematics. Filling up Octopus with 849,000 litres of MDO would cost $373,000 at yesterday's spot price.
But this is of course pure theory as a megayacht never runs dry and filling up from empty never occurs except if the tanks have been emptied because of maintenance, refitting, inspection etc. What does happen is topping the tanks before an ocean passage or if the fuel broker calls with a bargain price found in some port.

So people having a passion for sailing yachts will be happily cruising this summer thinking of all the money they save!