World News
Scorpio Bulkers Delays 13 Scrubber Installations
Dry bulk shipping company Scorpio Bulkers has delayed the installation of 13 scrubbers, the company said Monday.
Scorpio has delayed the delivery of the emissions-cleaning systems until at least 2021, the company said in an earnings statement on its website.
The delay puts off payments of $20-25 million, the company said.
Sister company Scorpio Tankers announced last week that it would postpone 19 scrubber retrofits until at least 2021.
The amount of money owners can save on their fuel bills by operating a scrubber, shown in the price spread between high sulfur fuel oil and very low sulfur fuel oil, has declined rapidly since the collapse in crude oil prices in early March.
The spread at Rotterdam was just $46/mt on Monday, according to Ship & Bunker pricing, down from $298/mt at the end of 2019.
As of May 8, Scorpio Bulkers has scrubbers installed on 22 of its vessels, the company said.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.50 | 0.00 | 665.50 | 1.00 |
| Rotterdam | 512.00 | 3.00 | 663.00 | 0.50 |
| Houston | 545.50 | 3.00 | 666.00 | 9.50 |
| Fujairah | 560.50 | 0.00 | 743.50 | 1.50 |
| Global 20 Ports Average | 584.00 | 1.00 | 751.50 | 2.00 |
| Global 4 Ports Average | 547.50 | 0.00 | 684.50 | 2.50 |
| Global Average Bunker Price | 633.50 | 0.50 | 805.50 | 0.00 |
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