Genco Shipping Completes Scrubber Installation Programme on 17 Ships

by Ship & Bunker News Team
Wednesday January 29, 2020

New York-based Genco Shipping & Trading has completed its scrubber installation programme, the company said Wednesday.

As of 17 January the company had finished installing scrubbers on its 17 Capesize dry bulk vessels, it said in a statement.

About half of the installations were carried out in the fourth quarter of 2019.

"Given the timely nature of our scrubber retrofits on our Capesize vessels, we have been able to capture the differentials between compliant and high sulfur fuel so far in the early stages of compliance, significantly de-risking the initial investment," Genco CEO John Wobensmith said in the statement.

"With no scheduled drydockings for our Capesize vessels for the balance of 2020, we plan to maximize fleet-wide utilization for these vessels while re-implementing our active chartering approach.

"As such, we strategically repositioned select Capesize vessels after the completion of their scrubber installations towards the Atlantic Basin during the end of 2019 to better capture market fundamentals."