Star Bulk to equip fleet with exhaust gas cleaning systems before new sulfur emission cap regulation

Star Bulk anticipates an average cost, including installation, to be below US$2 million per vessel. The company has secured debt financing with an average margin of below 3% to cover up to approximately 70% of such cost and expects the remaining amount to be covered from operating cash flow and cash on hand, without raising equity for this purpose.

The company has also secured contracts with leading shipyards for the installation of such systems. Yet, in approximately 35% of the installations, riding teams are being deployed to carry out the retrofitting works onboard the vessels while at sea, reducing off hire time, as a result of those installations by 50 - 60%. A month ago, Star Bulk successfully completed the first scrubber installation at sea.

Read the article online at: https://www.drybulkmagazine.com/shipping/10092018/star-bulk-to-equip-fleet-with-exhaust-gas-cleaning-systems-before-new-sulfur-emission-cap-regulation/