World News
Torm Expands Scrubber Retrofits to 44 Vessels
TORM plc has expanded its scrubber retrofit programme to 44 vessels, but also pushed back some of its existing scrubber retrofits to the first and the second quarter of 2020 after being hit by delays at shipyards.
Writing in its latest earnings report, the owner said the issue was being seen "across the entire industry".
The push back would reduce the risk of further delays, and would also allow it to utilize the current strong market, it said.
The delay is related only to getting yard space, particularly for LR2s and LR1s, CEO Jacob Meldgaard explained during the earnings call, and the scrubbers units themselves are ready.
"We are not experiencing the same type of delays on our MRs because the number of yards that are available to us and others is significantly higher simply because of dimensions of the vessels," he added.
At the same time the owner has also expanded its programme and will install scrubbers on an additional 10 vessels, bringing the scrubber equipped total to 44 vessels.
To-date 16 of its vessels have been fitted with scrubbers.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.50 | 2.00 | 778.50 | 8.50 |
| Rotterdam | 602.00 | 0.50 | 748.00 | 6.00 |
| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
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