New York-listed tanker shipping firm International Seaways has signed contracts with Clean Marine AS of Norway and a qualified system installer for the purchase and installation of exhaust gas cleaning systems (scrubbers).
The systems will be installed on seven of its modern VLCCs, with an option for a further three systems covering the remaining three modern VLCCs in its fleet. The seven scrubbers are all to be installed prior to January 1, 2020, when the new 0.5% IMO sulphur emission cap goes into effect.
The seven scrubber units are intended to be funded with available liquidity.
“Following significant economic analysis and evaluation of different systems, we are pleased to have executed contracts to install scrubbers on a large portion of our VLCC fleet,” said Lois Zabrocky, President and CEO of International Seaways.
“We believe that by installing scrubbers on our largest ships, we will gain an economic advantage while further demonstrating a commitment to the environment as we did with our recent acquisition of highly efficient VLCCs.
“In addition to being well positioned to capitalise on a market recovery based on International Seaways’ sizeable high-quality fleet, our scrubber initiative also strengthens the company’s ability to take advantage of a potential strong tanker market resulting from the IMO regulations, as both crude and product tankers stand to benefit from increased transportation demand.”
Published: 27 September, 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.