Ship owners are postponing or cancelling the installation of scrubbers as the lockdown of economies due to the COVID-19 pandemic reduces financial cash flow, reports Reuters.
The global oil price crash has also intensely narrowed the differential between low sulphur and high sulphur bunker fuel from USD 300 in January to as low as USD 40 a tonne to date.
This would significantly increase the pay back time on the investment made by companies to retrofit scrubbers on their ships.
Norwegian shipping firm Wallenius Wilhemsen have reportedly cancelled scrubbers for nine ships and postponed an additional eight until later this year or 2021.
Frontline said it estimates a positive cash impact of approximately USD 7.6 million in 2020 resulting from these deferrals
Photo credit: Manifold Times
Published: 15 June, 2020
Between November 2016 and October 2017, Mr Tan falsified at least 20 invoices and submitted these invoices to UOB and OCBC, according to court documents obtained by bunkering publication Manifold Times.
‘CSM Taurus arrived in Singapore during mid-September and is currently undergoing final preparations before starting commercial operations,’ General Manager of CSM tells Manifold Times.
Criminal syndicate’s tampering with MFMs on bunker tankers Southernpec 6 and Southernpec 7 conceptualised by three masterminds and carried out by cargo officers on board, according to joint statement.
Seeks information connected to SGS COQs of Gas Oil and Marine Diesel Oil cargoes loaded on board Vinalines Glory from the Vopak Banyan Terminal in Singapore between January and February 2013.
Additional topics of bunker contamination and OCM services discussed at VPS’ Fuel Management Challenges – The Year of 2021 & Beyond webinar on 23 September; Manifold Times summarises the session.
‘The JMs have failed to discharge their duties by blindly helping the Banks mount a false case against the Defendant,’ wrote defence lawyers representing former IPP Director Dr Goh Jian Hian in court statement.