New York-listed Scorpio Tankers Monday says it intends to fit exhaust gas cleaning systems (scrubbers) on approximately 90 of its vessels.
The company has entered into an agreement to retrofit 15 of its LR2s with scrubbers, and has further signed letters of intent with suppliers, engineering firms, and ship repair facilities to cover the purchase and installation of Scrubbers on substantially all of its remaining owned and financed leased LR2, LR1, and MR tanker vessels (approximately 75 vessels).
The period of scrubber installations will commence between the second quarter of 2019 and the second quarter of 2020.
The scrubbers and their installation are expected to cost between USD $1.5 to $2.2 million per vessel, and the company anticipates between 60-70% of these costs will be financed.
“We have long maintained that the IMO 2020 regulations are both disruptive to the shipping industry generally as well as a powerful demand catalyst for product tankers,” commented Emanuele Lauro, Chairman & CEO.
“Although many well-capitalised and publicly-listed shipowners can source capital and publicize their intentions to pursue scrubbers, most of our industry cannot, and will rely on cleaner fuels to the benefit of ton-mile demand for product tankers.
“Irrespective, our focus remains on operating the most competitive fleet in our marketplace, and this has led us to carefully evaluate and ultimately opt for the benefits of fitting hybrid-ready scrubbers on approximately 90 ships in our fleet.”
Published: 16 October, 2018
Top three positive movers in 2021 were Hong Lam Fuels Pte Ltd (+14); Sirius Marine Pte Ltd (+12); and TFG Marine (+11); according to the latest data from the Maritime and Port Authority of Singapore.
Webinar will offer delegates insights on the prevention of operational issues when using VLSFOs, along with an update on biofuels and bunker fuel quality trends for 2021 and its forecast for the current year.
Heating VLSFOs to prevent cold flow issues causes issues related to distillate ageing, and there is a gentle balance to be maintained when handling the product.
Research into n-paraffin distribution of VLSFOs has shown that they not only differ from MGO, but significantly differ from each other as well, states bulletin.
Bunker Holding and Dan-Bunkering have decided not to appeal the city court ruling in the case where the companies were on trial for breaching EU sanctions against Syria, states USTC.
Poll shows market participants think Singapore’s future as a bunkering hub in the near term will be impacted most by growth in alternative bunker fuels and intensifying competition from other ports in Asia.