As shipping lines continue to count the cost of IMO2020 regulations, further environmental and climate change costs could be on the cards.
According to Hapag-Lloyd CEO, Rolf Habben Jansen, with its “Green Deal”, the European Commission is considering extending emissions trading to the shipping industry.
“This means that shipping companies would have to pay for their CO2 emissions in the future. In this should happen, the question will be: Which sustainable, alternative fuels can be made available to the industry in order to reduce CO2 emissions, meet regulatory requirements and cut costs?”
Habben-Jansen has for some time been vocal about the costs involved in converting vessels and using the new fuel. “Since the lion’s share of our fleet will sail with the new low-sulphur fuel oil, we expect additional costs of around US$1 billion per year.
The European Green Deal, is a package of measures that should enable European citizens and businesses to benefit from sustainable green transition. Measures accompanied with an initial roadmap of key policies range from ambitiously cutting emissions, to investing in cutting-edge research and innovation, to preserving Europe’s natural environment.