K Line: We Will Not Limit Ourselves to One 2020 Sulphur Cap Measure
- Business & Finance
Japanese shipping company Kawasaki Kisen Kaisha (K Line) plans to comply with the IMO’s 2020 sulphur cap by adopting a myriad of available measures, including scrubber and LNG retrofits as well as low-sulphur fuel.
“We will proceed on a ship-by-ship basis, aware that we cannot limit ourselves to one particular measure. In April 2018, the targets for reducing greenhouse gas emissions including CO2 emissions from international shipping were decided, then the concrete measures to achieve will be discussed,” President and CEO of K Line, Eizo Murakami, said in the company’s report 2018.
As explained, all of the options will be explored, including alternative fuels, deciding on a ship-by-ship basis which is the best way to go.
“Implementing environmental measures will entail large costs, but it is important to take action without delay by sharing the burden fairly among beneficiaries.”
Fresh from integrating its business with compatriot NYK Line and MOL into Ocean Network Express (ONE), K Line has reorganized its business into four segments: dry bulk, energy resource transport, product logistics and others.
The company is looking to further reduce the number of its high-cost, small and medium sized ships and securing long-term employment for its dry bulkers and tankers.
For the fiscal 2018, K Line’s consolidated operating revenues will decline to JPY 754.5 billion as a result of one-time cost stemming from ONE’s launching, worth JPY 8.5 billion. Operating income is expected to reach JPY 5 billion and profit attributable to owners of the parent of JPY 7 billion, the reports shows.
World Maritime News Staff