The Lloyd’s List Podcast: Paddy Rodgers on why the solution to pollution is not dilution
Joining Lloyd’s List Editor Richard Meade on this week’s Lloyd’s List Podcast is the outspoken Euronav chief executive Paddy Rodgers. Paddy has been quite vocal of late, even by his standards, on the subject of scrubbers. He refutes the economic logic of scrubbers and decries lack of sufficient scientific data in their support. However, he accepts that if his assessment is incorrect Euronav would use the abatement technology in the future
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“IT’s not about trying to hold a position of some moral superiority,” says Paddy Rodgers. “But don’t tell me it is a no-brainer to add $5m to $6m per ship and therefore I am going to make that money back in two to three years time…”.
Euronav’s outspoken chief executive has become the face of the anti-scrubber crusade ahead of the 2020 global sulphur cap at a time when a host of publicly-listed owners are flocking to the abatement technology in hopes securing a quick payback based on the expected price differential of hfo and compliant fuels in 2020.
Mind the Cap: How to avoid future fuel risk is an in-depth report on IMO 2020. Inside you will find unique Lloyd’s List Intelligence scenario modelling of low-sulphur fuel solutions, insight into legal and insured risk and the cost of compliance.
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Paddy joins Lloyd’s List Editor Richard Meade on a slightly extended edition of the podcast to explain why he is doubling down on his staunch anti-scrubber rhetoric, saying that he refuses to spend $300m to $400m on scrubber installations only to potentially find out six months into 2020 that these are sunken costs.
It’s a slightly longer listen than usual, but we think you’ll agree it’s worth it.
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