New York-listed dry bulk commodity transportation firm Scorpio Bulkers Inc. on Monday (11 May) said it intends to postpone thirteen scrubber orders until at least 2021.
The company has reached an agreement with its counterparties to postpone the delivery of exhaust gas cleaning systems, or scrubbers, it stated in a financial results report for the first quarter of 2020.
This is expected to delay the payment of between USD 20.0 million and USD 25.0 million of expenditures until 2021 at the earliest.
While Scorpio Bulkers did not specify who the counterparties are, Pacific Green Marine Technologies Inc. in December 2018 entered into a USD 42.4 million hybrid scrubber manufacturing agreement for 28 of Scorpio Bulkers’ vessels, with a second USD 13 million order in 2019.
Related: Scorpio Bulkers, Scorpio Tankers in 23 ‘hybrid-ready’ scrubber order
Related: Scorpio Bulkers rises scrubber installation credit by $41 million
Related: Scorpio Bulkers question scrubber solution
Published: 13 May, 2020
Two ultra-large container ships with scrubbers installed continued use of existing fuel oil while meeting all SOx emission regulations.
PGTK said it has continued to expand its technologies through its acquisition of ENGIN, so its portfolio now includes Concentrated Solar Power and Water Desalination.
Completes previously proposed merger to meet scrubber demands and develop additional products for fuel efficiency.
A more normalised fuel market will develop post-COVID19, and the profitability of its scrubbers investments is expected to improve in the future, it said.
Study acknowledges scrubbers are effective at reducing air emissions of SO2, however the contaminants are dumped overboard in the form of washwater.
A study by independent Norwegian research group SINTEF confirmed burning HSFO with a scrubber has a lower carbon footprint than using LSFO.
Caroline Yang, President of SSA, addresses issues earlier raised by players; including PMC No. 04, the seven-day restriction, contactless bunkering, sampling point, hose connection, and more.
IBIA Asia, ABIS, sources from Singapore’s bunkering and surveying companies, and an industry veteran share with Manifold Times the issues expected from MPA’s latest Covid-19 measures.
The top three positive movers in the 2020 bunker supplier list are Hong Lam Fuels Pte Ltd (+13); Chevron Singapore Pte Ltd (+12); and SK Energy International (+8), according to MPA list.
‘We will operate in the Singapore bunkering market from the Tokyo, with support from local staff at Sumitomo Corporation Singapore,’ source tells Manifold Times.
Changes include abolishing advance declaration of bunkers as dangerous cargo, reducing pilotage fees on vessels receiving bunkers, and a ‘whitelist’ system for bunker tankers.
Claim relates to deliveries of MGO to the vessels Pacific Diligence, Pacific Valkyrie, Pacific Defiance, Crest Alpha 1, and Pacific Warlock between March 2020 to April 2020.
