Scorpio Raises Loan to Finance Scrubber Installations

Monday April 1, 2019

Dry bulk ship operator Scorpio Bulkers has borrowed an extra $41 million to pay for more scrubbers to go on some of its ships.

The monies represent an extension of already existing credit facilities and carry the same loan margins on earlier loans, the company said in a statement.

Exhaust gas cleaning systems, which are more commonly known as scrubbers, allow ships to continue to use high sulfur fuel oil once the global bunker fuel sulfur cap is fixed at 0.5% from the start of next year.

Scorpio's fleet comprises 55 vessels made up of owned and leased ships with one vessel on a time-charter.