Gothenburg, Sweden, headquartered tanker operator Stena Bulk is to install exhaust gas scrubbers on 16 ships before the January 2020 IMO sulfur cap deadline.
In all, ten IMOIIMAX tankers, five Suezmaxes and one standard MR will be equipped with scrubbers, representing an investment worth $55 million including equipment, installation and time out of service.
Stena Bulk says that the payback time for the investment is between 1.5 and 2.5 years which, it says, “has already been secured by hedging the fuel spread.”
Stena Bulk says that availability of IMO 2020 compliant duel around the world has “now become a concern to many.”
“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 so limit our exposure to not finding the right fuel around the world, enabling us to stay flexible in our trading,” says President & CEO Erik Hånell.
The scrubber type to be installed is an Open Loop Hybrid Ready system with Water Cleaning, which not only removes sulfur but also particles from the exhaust.