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.