Oil-thirsty dinosaurs

Shipowners should tread carefully when ordering eco ships to avoid creating oil thirsty dinosaurs, Andreas Sohmen-Pao says.

The BW Group chief’s comments came as he delivered a keynote speech at the opening of Nor-Shipping in Oslo Tuesday.

Sohmen-Pao told delegates: “Some of the newly touted eco ships may not be the answer to our challenges.

“Scrapping young ships is a huge environmental waste and we should be expending at least as much energy on optimising existing ships

“With new emission regulations, uncertainty over the price of fuel and a possible switch to gas propulsion in future, we need to make sure today’s eco ship does not look like tomorrow’s oil thirsty dinosaurs.”

Sohmen-Pao’s comments came in an address which looked to tackle some of the major issues plaguing the industry today.

“Overcapacity and weak demand, what would you do?” he asked.

 “While there are rational reasons why an individual company orders new ships rather than buying existing ones, everybody doing the same thing results in collective madness?”

What next? is a key theme of Nor-Shipping 2013 and the BW Group boss did have some solutions to share.

Watch the video to find out more

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