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Seanergy Maritime Holdings to install scrubbers on 50% of capesize fleet

Published by , Assistant Editor
Dry Bulk,

Seanergy Maritime Holdings Corp. has entered into commercial agreements for the installation of exhaust gas cleaning systems (scrubbers) on five of its capesize bulk carriers before the 1 January 2020 implementation date of the IMO sulfur emission cap regulations. Upon completion of the installations scheduled for the second and third quarter of 2019, the vessels will commence index linked period employment with three leading dry bulk charterers ranging in durations between three and five years.

The company has secured the scrubber equipment from Hyundai Materials, a well-known Korean manufacturer and has reserved retrofitting slots at an experienced drydock facility in China. The total investment, to be covered by the charterers, is expected to exceed US$12.5 million, including equipment and installation costs.

Stamatis Tsantanis, the company’s Chairman & CEO stated: “We are very excited to announce these commercial agreements which should result in approximately US$12.5 million accretion in our NAV. We believe that the significant investment that will be implemented in full cooperation with our charterers represents a balanced and comprehensive approach towards the new environmental regulations scheduled to become effective as of 1 January 2020.”

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