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2020: Golden Ocean exercises option for four more scrubbers

21 Nov 2018

Dry bulk shipping firm Golden Ocean Group Limited on Tuesday declared the first four of nine options to install exhaust gas scrubbers on Capesize vessels, in addition to previously announced contracts to install scrubbers on 16 Capesize vessels.

The scrubbers will be installed during routine dry dockings, the majority of which are scheduled for 2019 or early 2020.

“We have further strengthened our fleet’s competitive advantage by declaring options for additional scrubbers,” said Birgitte Ringstad Vartdal, Chief Executive Officer of Golden Ocean Management AS.

“A large part of our Capesize fleet that have exposure to fuel cost will be retrofitted with scrubbers, and is expected to significantly increase the company’s cash generation from 2020 and onwards.”

In August 2018, the company entered into an agreement to purchase 16 scrubbers with options to purchase nine additional scrubbers to be installed on certain of its Capesize vessels.

In November 2018, it declared four of the nine options; the company is still evaluating whether and when to declare the last five options.

Related: 2020: Golden Ocean removes older tonnage, places 16-scrubber order

Photo credit: Golden Ocean Group Limited
Published: 21 November, 2018

 

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