Privately owned Norwegian/Swedish shipping company Wallenius Wilhelmsen Logistics will be potentially spending up to $140 million in ‘balanced approach’ to tackle IMO 2020 0.5% global sulphur cap.
The firm in June decided to initiate a program to retrofit scrubbers on 20 vessels over the next few years, increasing the number of vessels in the fleet with scrubbers to 25.
The average cost per scrubber instalment is estimated to be between USD $6 to 7 million.
“Implementation of the IMO 2020 0.5% global sulphur cap represents a challenge and risk for the shipping industry, with fuel costs expected to increase with about 50% combined with a lack of clarity around availability and quality of fuels,” it explains.
“Wallenius Wilhelmsen is relatively well covered through Sulphur (BAF) clauses already in place for majority of the larger customer contracts and aims to introduce relevant clauses for remaining customer contracts.
“To handle this uncertainty, Wallenius Wilhelmsen has chosen a balanced approach which gives the best chance of managing risks and costs.
“The group has therefore arrived at a strategy of combining operating with different types of low sulphur fuel and installing scrubbers on the most suitable vessels.”
Photo credit: Wallenius Wilhelmsen
Published: 10 July, 2018
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