HMM CEO Calls for 2020 Compliance Tech to Be "Shared With All Stakeholders"

by Ship & Bunker News Team
Monday October 16, 2017

C. K. Yoo, CEO of Hyundai Merchant Marine Co., Ltd. (HMM), in an address to TPM Asia 2017 last week, said technical solutions for meeting a global 0.50 percent cap on sulfur in 2020 "ought to be shared with all stakeholders by the parties, whoever may find them."

In his address, Yoo went over the various compliance options available to ship owners to meet the coming sulfur regulations, highlighting the benefits and challenges of using compliant fuel, exhaust gas scrubbers, or liquefied natural gas (LNG) as marine fuel.

"We, at HMM, are committed to the sublime principle of protecting environment and we are willing to share technical solutions as they are identified," said Yoo.

"Furthermore, we would rather take the sulfur compliance as an opportunity of enhancing our competitiveness as we gradually keep replacing old fleet with environmentally friendly ships in line with the new regulations."

In February, the South Korean shipping giant said it was set to post losses through to the first half of 2018 as it works to improve its financial position.

Following up on this at TPM Asia 2017, Yoo asked customers and stakeholders for patience during the current and coming challenges.

"We will not forget your support during the rough times and do our utmost to provide the best service," said Yoo.

"Further, we will not spare in our efforts to make contributions to the advancement of maritime technology."

Ship & Bunker News Team
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