EMEA News
Finnlines Ready to Compete under New ECA Rules
Finnlines Oyj (Finnlines)'s "young, energy-efficient fleet" will help it compete when new sulfur emissions standards take effect on the English Channel and Baltic Sea next year, Chief Financial Officer Tom Pippingskoeld told Bloomberg.
"This is a highly competitive business," he said.
"Considering our competitors with an older fleet, it may not be economical to install scrubbers on older vessels, since they are expensive."
Finnlines has spent more than €1 billion ($1.32 billion) to modernise its fleet over the past 10 years.
The company is now working to improve its operating models, determining what ships should carry what cargo on each route.
"By reducing excess capacity, optimizing routes, monitoring the profitability of each vessel in addition to each route, we'll see the trouble spots more easily," Pippingskoeld said.
Finnlines has been installing scrubbers on some of its vessels to address the new emissions rules that start in January 2015.
