Hapag-Lloyd to Unveil Plan for 2020 Fuel Regs in 2018
Wednesday, March 28, 2018
German shipping company Hapag-Lloyd plans to give details within three to six months on compliance with tighter shipping fuel regulations that will kick in from 2020, its chief executive Rolf Habben Jansen said on Wednesday.
The International Maritime Organisation (IMO) has ruled that heavily polluting high sulphur fuel will be banned for parts of the global industry from that date.
Habben Jansen told an investor and analyst call there were three options to cut emissions - more expensive low sulphur fuel, so-called scrubbing or using liquefied natural gas (LNG).
He said the issues were complex but installing scrubbers to remove sulphur did not appear to be the company's preferred option.
He also said Hapag-Lloyd was aiming to get itself into a position to be paying regular dividends, after announcing a surprise pay-out of 0.57 euro per share for 2017.
(Reporting by Vera Eckert, editing by Victoria Bryan)