World News
Scorpio Tankers Pushes Ahead with Open-Loop Scrubber Orders
Scorpio Tankers [NYSE:STNG] is pressing ahead with plans to fit open-loop scrubbers to its fleet, announcing today it has entered into purchase agreements for 52 vessels - 42 in 2019 and ten in 2020 - at an estimated cost of $79.6 million.
The agreement provides a purchase option for up to 28 additional vessels in 2020.
The practice of open-loop scrubbing has come under renewed criticism following the surge of orders for exhaust gas cleaning systems over the summer. The verbal criticism was punctuated Friday by the Maritime and Port Authority of Singapore (MPA) saying it will ban the use of open-loop scrubbers in its waters.
Advocates of the technology maintain there is no evidence that scrubber washwater is harmful to the sea.
Scorpio says it is ordering "hybrid ready" units that can be "upgraded to a 'closed loop' configuration at a future date," but did not give details on what the cost of this would be.
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 |
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