AP Moller Maersk CEO Soren Skou says the switchover to lower sulphur fuel to meet the
demands of newly implemented IMO 2020 has been "very successful" during
the first two months of the year, adding that the group did not
experience any operational problems and the fleet is now fully compliant
with the sulphur cap.
"Currently, only a limited number of our
vessels have scrubbers installed due to delays at the yards and the
situation in China, and I think those delays are probably going to
become even longer," Mr Skou said during a conference call following the
release of the carrier's 2019 results.
He said Maersk's fleet currently consumes 10 per cent heavy fuel oil
(HFO), 10 per cent marine gas oil (MGO) and 80 per cent very low sulphur
fuel oil (VLSFO). By year-end, when more scrubbers are installed, he
expects HFO's share to rise to 25 per cent, reported American Shipper.
"We have witnessed high volatility in fuel prices," he added, noting
that as a result, Maersk will implement a new surcharge of US$50-$200
per FEU from March 1.
Asked about passing costs on to shippers, Mr Skou replied: "As far as
spot volumes, which are about half our volumes, if you look at the
Shanghai Freight Index, freight rates have gone up substantially since
October 1 at least until Chinese New Year."
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