Euroseas Ltd, a Greek containership owner, is planning to use low sulphur fuels to be compliant with the IMO’s 2020 sulphur cap regulations. In its full year results call Euroseas said it was eschewing fitting scrubbers to meet the demands of the sulphur cap and will use compliant low sulphur fuels.
Mainly, Aristides Pittas, Chairman and CEO of the company, noted that he will not further discuss the advantages and disadvantages of installing scrubbers on vessels, as it has been extensively discussed in the shipping industry.
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On the other hand, he supported that the company will not install scrubbers on its fleet, but will burn fully compliant fuels in hopes of better-protecting the environment.
He continued stating that as ships are being taken off the market, due to 2020 regulations, there’s a possibility of increase in low sulphur fuel prices can result in further slow-steaming, which in turn could help strengthen the market.
Finally, Mr Pittas commented that there are some benefits to acquire lower priced assets. In other words, should the weak sentiment continue, it would result to more opportunities for a further developments in favour of the company, by buying more cheap assets.
