• PNG Business News

Swire To Bring In 8 New Vessels



Swire Shipping Agencies is bringing into the country eight new ships in the first quarter of 2020.


The news ships will replace the company’s aging vessels to service PNG and other Pacific countries.


Company national commercial manager Andrew Wong said the older vessels in the fleet will be responsibly recycled.


He said the new vessels are part of the firm’s aim to reduce the high sulphur emissions from the fuel burned from the ships, that is in line with the international maritime organisation (IMO) 2020 set regulation.


“Our new eco-friendly ships will be the largest container vessels in PNG, allowing us to increase cargo capacity for the upcoming projects and growing population,” Mr Wong said.


“The IMO 2020 regulations dictate that as of January 1, 2020 all vessels will need to reduce the sulphur content of their fuel to help reduce fuel emissions.


“Currently vessels burn 3.5 per cent sulfur fuel oil and as of January 1, this will be reduced to 0.5 per cent sulphur content- a global requirement for all the shipping lines.”


Swire Shipping Agencies have two divisions which are Swire Shipping and Swire Bulk that operates over 180 vessels.


The firm has been providing shipping service in PNG since 1941 and continued to do so by keeping up with the economic challenges of the country.


He said like every other company and business, they feel the same economic challenges that their customers are affected with. “Such as foreign exchange (FX), reduced domestic demand for goods and uncertainty around oil, gas and mining projects,” Mr Wong said.


The announcement was made before representatives from Lae business houses on Wednesday in an effort the company embarked on to inform its customers of the upcoming changes they anticipate in line with IMO 2020 regulations.

Continue reading at https://postcourier.com.pg/swire-to-bring-in-8-new-vessels/ | Post Courier

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