Following in the footsteps of a number of tanker operators including sister company Scorpio Tankers, Scorpio Bulkers has become the latest ship operator to announce scrubber installation delays when delivering Q1 figures.
Scorpio Bulkers says it has postponed the installation of 13 scrubbers, which is expected to delay $20M-$25M in expenses until 2021 at the earliest. The company says it completed installation of 22 scrubbers as of 8 May and has seven vessels that are still due for to receive scrubbers before Q4 2021 at a total estimated cost of $46.7M.
The deteriorating global economy has coincided with a reduced differential between HFO and 2020 compliant fuels. S&P Global Platts assessed the premium of delivered VLSFO over HFO at Rotterdam at $53/mt on Monday, down from $296/mt at the start of the year, which increases the payback time from one year to about four years for open-loop scrubbers and six years for closed-loop scrubbers.