Cleaner shipping spells big business for Aalborg Industries  

2009.11.09
Tighter rules on flue gas emissions from ships to be introduced by the IMO mean excellent earning opportunities for Jutland-based Aalborg Industries
New rules to be gradually introduced up to the year 2020 by the International Maritime Organisation (IMO) mean that flue gas emissions from ships will be much more tightly controlled. And that means excellent earning opportunities for Jutland-based Aalborg Industries, writes financial daily newspaper Børsen.
 
Aalborg Industries is among the world leaders in so-called scrubber systems, which are used to filter and clean flue gas emissions from ships. The company reckons that in the longer term, scrubber systems will account for a third of its revenues. But it will be a stepwise growth process. Managing director Jan Vestergaard Olsen told Børsen:
 
"Many shipping companies will perhaps choose to get around the gradual tightening of the rules in 2010 by using a fuel with less sulphur. So we reckon that we will first reach a peak with our scrubber system business from 2014. From 2014-17 we expect annual revenues of DKK 1.0-1.5bn (approx. USD 200-300m)."
 
Aalborg Industries thinks that from 2015, it will be more cost-effective for shipping companies to meet environmental demands by installing scrubber systems and using cheaper fuel, than continuing the intermediate solution of using cleaner but significantly more expensive fuel. The company has calculated that the payback time for a scrubber system will be less than one year for the majority of ships.
 
The Jutland firm expects that it will have a 15-20% share of the global market for scrubber systems from 2014 onwards.
 
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