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.
Photo credit: Golden Ocean Group Limited
Published: 21 November, 2018
Bunker orders of ISO 8217:2010 spec LS 380 cSt 0.5% for Nord Gemini, Nord Titan, Ocean Rosemary, and Luzern were placed through global commodities trading and logistics house Trafigura Pte Ltd.
While Covid-19 concerns are important, Captain Rahul Choudhuri was quick to note this does not mean bunker fuel related issues have indeed disappeared from the shipping sector.
‘Therefore, representing the players of the Malaysian bunker industry, we sincerely hope that this matter can be refined and reconsidered immediately so that all parties benefit together,’ says communication.
Maureen Poh, a Director of Helmsman LLC, offers plain practical tips on the differences between US and EU Sanctions and shares some thoughts on what companies could do if they are potentially exposed to sanctioned entities.
‘We [Consort Bunkers] have the opinion that the bunker business in Singapore is not related to the widely reported earlier cargo commodity trading mishaps,’ company source tells Manifold Times.
Representatives of INTERTANKO, Helmsman and Rajah & Tann gather to discuss IMO 2020, legal frameworks for the purchase and supply of alternative marine fuels, and the handling of bunker claims.