ShippingWatch

Søren Toft: The green transition is going to cost and there is no point in denying it

MSC Chief Executive Søren Toft says that higher costs of green fuels will trickle down through the supply chain and that the green transition will lead to price increases for customers. He remains firm on LNG's position as a transitional fuel. 

Søren Toft, CEO, MSC. | Photo: MSC - PR

MSC CEO Søren Toft is clear that the swap to green fuels will absolutely lead to higher costs and that this must be spread out in the supply chain.

"The fuel cost will double compared to today. We will add a few $100 of cost per teu carried, which ultimately will be passed on to the customer," said Toft at a DNV conference Tuesday afternoon, adding: 

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

CEO appoints new J. Lauritzen investment team

Kristian Mørch, the former CEO of Odfjell and current CEO of investment firm J. Lauritzen, has already constructed his new team, which involves both shipping and investment industry professionals.

Further reading

Related articles

Latest news

See all jobs