World News
TMS Group Inks 53 Vessel Scrubber Deal with Panasia
Tuesday July 10, 2018
Athens-headquartered BPCO LTD has announced a significant deal for exhaust gas cleaning systems between South Korea's Panasia and Greek owner TMS Group.
Under an agreement signed last week, Panasia will fit scrubbers to 53 vessels including bulkers and tankers in the fleets of TMS Tankers and TMS Bulkers.
Greek media report the deal is worth KRW75 billion ($67 million).
Shiprepair Brokers are BPCO are exclusive agents for Panasia.
The news comes amid a flurry of orders for the systems, which will allow vessels to continue burning HSFO bunkers after the global 0.50% sulfur cap comes into force on January 1, 2020.
Still, the overwhelming majority of vessels are on course to comply with the new rules by switching to low sulfur fuel.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 645.00 | 2.00 | 767.50 | 11.50 |
| Rotterdam | 600.00 | 8.00 | 751.50 | 13.00 |
| Houston | 627.50 | 9.00 | 796.00 | 11.50 |
| Fujairah | 649.50 | 0.00 | 889.00 | 0.50 |
| Global 20 Ports Average | 665.00 | 0.50 | 864.00 | 6.50 |
| Global 4 Ports Average | 630.50 | 5.00 | 801.00 | 9.00 |
| Global Average Bunker Price | 722.50 | 2.50 | 922.50 | 3.00 |
Popular Now More
-
Apr 19The firm has chartered the 7,994 DWT barge Margherita to add to the operation, operated by Fratelli Cosulich. -
Apr 18Singapore's authorities are in the process of developing a regulatory framework for a methanol bunkering licence, and plan to call for applications for the licence by the end of this year. -
Apr 19The company is looking for candidates with proven experience in bunker trading and demonstrated leadership experience.