Hapag-Lloyd to Have Plan for 2020 Low Sulphur Fuel Regulation Later in 2018

HAMBURG, March 28 (Reuters) – 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.

Hapag-Lloyd Sees Calmer Waters for Shipping Industry

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.

IMO Moves to Ban Carriage of High Sulphur Marine Fuel Ahead of 2020 Low Sulphur Requirement

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)

(c) Copyright Thomson Reuters 2018.