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Stena Bulk enters $55 million contract for 16 scrubber units

20 Mar 2019

Tanker shipping firm Stena Bulk on Monday (18 March) said it has made a major investment in scrubbers.

A total of 16 units will be installed on several vessels consisting of 10 IMOIIMAXes, 5 Suezmaxes and one of standard MR before January 2020.

The total investment is worth US $55 million including equipment, installation and time out of service. Payback time of investment is between 1,5 and 2,5 years which has already been secured by hedging the fuel spread.

The fuel availability around the globe, to a degree a given one, has now become a concern to many.

“We evaluated the different options and came to the conclusion that for our business by installing scrubbers we will secure greater availability of fuel for our vessels and by so limit our exposure to not finding the right fuel around the world and by that stay flexible in our trading,” said President & CEO Erik Hånell.

“Even doing so we know it will require some changes and probably massive challenges in the planning logistically.

“We will however prepare ourselves best possible so that we can secure at least the same level of support to our customers as today.”

The scrubber to be installed is an Open Loop Hybrid Ready with Water Cleaning, which not only removes the sulphur but also particles from the exhaust, it says.

“In addition to the equipment we now install the most important part to make all work is of course the people working with this.

“We have the last 24 months prepared our business teams to assure minimal to none disruption caused by the scenario we are now facing as from January 1st 2020.

“Going forward, our digital platform, Orbit, one of many tools will be able to confirm global supply to optimise the planning in our bunker operations, as a support to Commercial Operation, Bunker trading and Chartering.”

Photo credit: Stena Bulk
Published: 20 March, 2019

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