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Scorpio Bulkers provides scrubbers update

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Dry Bulk,

On 15 October, Scorpio Bulkers Inc. announced that it has agreed letters of intent, which are subject to the execution of definitive documentation, with suppliers, engineering firms and ship repair facilities to cover the purchase and installation of exhaust gas cleaning systems (scrubbers) on substantially all of its owned and finance leased kamsarmax and ultramax vessels between the second quarter of 2019 and the third quarter of 2020.

The scrubbers and their installation will cost between US$1.5 million - 2.2 million per vessel, and the company anticipates that between 60 - 70% of these costs will be financed.

Emanuele Lauro, Chairman & CEO, commented: “We have long maintained that scrubbers could be the right choice for compliance with the IMO 2020 regulations. Having cautiously and patiently evaluated various risks associated with this disruptive change to our industry, we are now confident that substantial savings can be realised and that – with this investment in our vessels – our fleet will remain the most competitive in our marketplace."

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