Maersk Line, the world’s largest containerline, has estimated its fuel bill will rise by at least $2bn after the introduction of the global sulphur cap on January 1, 2020.
In an interview with Bloomberg, Simon Bergulf, director for regulatory affairs at AP Moller-Maersk, revealed the $2bn figure, saying high crude prices and the tight availability of compliant fuels were pushing shipping towards a near perfect storm.
Maersk has been vocal in its opposition towards scrubbers. Earlier this month it formed a joint venture with Vopak in Rotterdam to produce low sulphur fuel oil for up to one fifth of the Maersk fleet.
Maersk spent $3.37bn on fuel last year. As well as eschewing scrubbers, Maersk has also shunned LNG as a fuel come 2020, meaning Maersk is committing to a low sulphur fuel future.
“Everyone that we’re talking to in our dialogues in the refineries, in the bunker suppliers, they’re not fearing any shortage. That’s not something that they’re fearing at all. They believe they’re well equipped to handle that transition,” Bergulf told Bloomberg.