World News
Maersk Still "Concerned" over Weak ECA Enforcement
Maersk Group Wednesday reiterated concerns over weak enforcement of the new sulfur cap in force within Emissions Control Areas (ECAs).
"We are concerned about the possibility that enforcement of regulations will remain weak, particularly in the European ECA, as non-compliance will harm the competitive landscape and weaken the positive effect on air quality," said the group.
Approximately 40 percent of Maersk Group's fleet is said to be affected by the 2015 rule changes, amounting to nearly 400 ships.
"Maersk Line and Maersk Tankers are preparing vessel tanks and fuel systems for the switch to low-sulphur fuel," it said.
The group estimated that expenses associated with the switch to lower sulfur fuels would add between $200 million and $250 million per year to its cost base.
The comments were delivered in the company's Sustainability Report for 2014, in which the group also announced it had improved CO2 efficiency by 5 percent.
The efficiencies were driven mainly by a 7.9 percent reduction in bunker consumption at Maersk Line which saved $98 million.
Last year, Maersk Group companies became members of Trident Alliance, which aims to promote a level playing field on sulfur regulations by encouraging strong enforcement of the rules.
In January, P&I club Skuld said the European and North American ECA rules would have teeth and be rigorously enforced.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 548.00 | 0.50 | 677.50 | 2.00 |
| Rotterdam | 513.00 | 0.50 | 649.00 | 3.00 |
| Houston | 544.50 | 2.50 | 675.00 | 4.00 |
| Fujairah | 541.50 | 2.50 | 744.00 | 3.50 |
| Global 20 Ports Average | 572.00 | 2.50 | 758.00 | 2.50 |
| Global 4 Ports Average | 536.50 | 1.50 | 686.50 | 3.00 |
| Global Average Bunker Price | 624.00 | 2.50 | 801.00 | 3.50 |
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