IMO 2020 Overshadows Hapag-Lloyd’s 2020 Profit Outlook – CEO
Tougher rules on sulphur emissions from ships set by the International Maritime Organisation (IMO) from January burden the profit outlook for Germany’s container shipping line Hapag-Lloyd this year after a good 2019, its chief executive said.....MORE
“This will make it difficult for us to achieve a better (2020) result,” Rolf Habben Jansen told reporters in Hamburg in comments on the ban on ships using a sulphur content above 0.5% on risk of fines, which is shaking up oil and shipping.
But with above-market growth rates in transport volumes in 2019, Hapag-Lloyd was on a good course with its profits to help offset the extra costs from more expensive fuel and vessel refits, he added.
The company, the world’s fifth biggest container liner, will report 2019 earnings on March 20....
