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 | 548.00 | 0.50 | 677.50 | 2.00 |
| Rotterdam | 513.00 | 0.50 | 649.00 | 3.00 |
| Houston | 544.50 | 2.50 | 675.00 | 4.00 |
| Fujairah | 541.50 | 2.50 | 744.00 | 3.50 |
| Global 20 Ports Average | 572.00 | 2.50 | 758.00 | 2.50 |
| Global 4 Ports Average | 536.50 | 1.50 | 686.50 | 3.00 |
| Global Average Bunker Price | 624.00 | 2.50 | 801.00 | 3.50 |
Popular Now More
-
Dec 23The company carried out worldwide marine fuel trading from offices in Singapore. -
Dec 232024's total is heading for a 3.4% gain from 2023 and the highest level since 2019, according to the latest market survey from Ship & Bunker and 2050 Marine Energy. -
Dec 23"We're being ripped off at the Panama Canal like we're being ripped off everywhere else," President Trump was cited as saying at an event in Arizona on Sunday.