Shipper Biofuel Insetting Helps Finance Hapag-Lloyd Retrofits

38

“More and more” of Hapag-Lloyd’s shipper customers are assisting the line’s retrofit campaign by participating in the biofuel insetting program Ship Green, reports The Loadstar.

Greener vessels

In times past, shipping lines have simply scrapped and renewed their fleets with greener vessels; but this is proving a challenge in the current market, with shipyards full and owners unlikely to see newly ordered vessels delivered before 2028.

This has spurred Hapag-Lloyd to embark on a campaign of retrofitting its existing fleet, including converting five vessels to methanol.

In conversation with The Loadstar at the SMM trade show in Hamburg this week, Capt Silke Lehmkoester, Hapag-Lloyd’s fleet manager and a veteran seafarer, explained that an increasing number of shippers were now willing to pay a premium to offset their cargo.

Through contributions to the Ship Green insetting program, Hapag-Lloyd is better able to finance retrofits such as remodeled bulbous bows and more efficient propellers, permanently improving efficiency.

Having equipment better suited to the modern market is reaping dividends in terms of reducing fuel costs, said Capt Lehmkoester, as new and more complex environmental regulation takes hold.

Container lines will also come under pressure in less than four months when FuelEU Maritime enters force in European waters in January. Hamburg-based OceanScore, an emissions data analyst, estimates container lines could be hit with a bill of $231,000 per ship – with other segments, such as ro-ro, facing even greater costs.

However, there are signs that it may be becoming increasingly difficult to pursue Hapag’s retrofit strategy, Capt Lehmkoester said. “We are not the only company that is looking into retrofits… slots are not easy to get.

Did you subscribe to our daily Newsletter?

It’s Free! Click here to Subscribe

Source: The Loadstar