World News
IMO 2020: Scorpio Goes Big on Scrubbers, Wants to Fit Units on Substantial Majority of Both Fleets
After initially being luke-warm on the idea of using scrubbers for IMO 2020 compliance, major shipowner Scorpio today said it has decided to go big on the tech for both its tanker and scrubber fleets.
"The Company has announced that management expects to retrofit the substantial majority of its vessels with exhaust gas cleaning systems, or scrubbers, to comply with the IMO 2020 rules regarding sulfur emissions by the end of the first half of 2020," the companies said today in what were essentially identical SEC filings for Scorpio Bulkers and Scorpio Tankers.
"The Company expects the aggregate capital investment of such retrofits to be material, but has not determined the exact costs or how such costs will be financed."
The announcement marks the latest firm to soften its stance on scrubbers, with the previously skeptical Scorpio appearing to warm to the idea of using the tech over the course of the last few months.
Hapag-Lloyd and A.P. Moller – Maersk are among other notable names to have had a change of heart on using scrubbers.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 551.00 | 3.00 | 672.00 | 5.50 |
| Rotterdam | 515.50 | 2.50 | 652.50 | 3.50 |
| Houston | 540.50 | 4.00 | 670.00 | 5.00 |
| Fujairah | 542.50 | 1.00 | 747.00 | 3.00 |
| Global 20 Ports Average | 573.50 | 1.50 | 756.00 | 2.00 |
| Global 4 Ports Average | 537.50 | 1.00 | 685.50 | 1.00 |
| Global Average Bunker Price | 624.50 | 0.50 | 801.00 | 0.00 |
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