Stena Bulk is investing US $55 million in the retrofit of 16 scrubbers for ten of its IMOIIMAXes, five Suezmaxes and one of standard MR.
The total cost covers equipment, installation, and time out of service. Payback time of investment is between 1.5 and 2.5 years, which has already been secured by hedging the fuel spread.
The scrubber to be installed is an Open Loop Hybrid Ready with Water Cleaning, which removes both sulphur and particles from the exhaust.
Once installed, the scrubbers will enable Stena Bulk to comply with the IMO’s global sulphur cap of 0.5 per cent to enter into force on January 1, 2020.
According to Stena Bulk, the uncertainty surrounding compliant 0.5 per cent fuel availability and compatibility led the company to opt for scrubbers for 2020 compliance.
“We evaluated the different options and came to the conclusion that for our business by installing scrubbers we will secure greater availability of fuel for our vessels and by so limit our exposure to not finding the right fuel around the world and by that stay flexible in our trading. Even doing so we know it will require some changes and probably massive challenges in the planning logistically. We will however prepare ourselves best possible so that we can secure at least the same level of support to our customers as today,” stated President & CEO Erik Hånell.
The scrubbers will be installed before January 2020,