The world’s largest container shipping line said adhering to stricter environmental standards could add at least $2 billion to its annual fuel bill from 2020, one of the clearest examples yet of how vessel owners will be affected by rules to curb sulfur emissions that take effect in 16 months’ time.
High crude prices, tight availability of compliant fuel, and investment in research and development are among issues that will combine to drive up the cost of complying with IMO 2020, said Simon Bergulf, director for regulatory affairs at A.P. Moller-Maersk A/S, the Copenhagen, Denmark-based operator of hundreds of containerships and smaller craft such as tugboats.
“I wouldn’t call it a perfect storm, but it’s close,” Bergulf said, adding that marine fuel suppliers that Maersk is in contact with aren’t concerned about a ship-fuel shortage.