Concordia Maritime plans to swap fuel derivatives to offset low sulphur fuel oil's higher cost as part of a scrubberless scheme to meet IMO 2020 regulations.
"One can actually hedge the spreads in the derivatives market, and we have actually done that," chief executive Kim Ullman said during the company's third-quarter earnings call.
"We've taken a position to hedge 50% of the consumption in 2020 and the first half of 2021 when we believe this spike will be at its peak, so to speak."
