Scorpio Tankers purchases 55 Ecochlor Ballast Water Treatment Systems
Scorpio Tankers announced that the Company has signed an agreement to purchase 55 ballast water treatment systems from Ecochlor. for retrofit on their product carriers.
Installations are expected to begin in the fourth quarter of 2018 and continue to the end of 2022. Scorpio Tankers will also become a minority shareholder in Ecochlor.
Emanuele Lauro, Chairman & CEO of Scorpio Tankers said, “We are delighted to be working with Ecochlor, given their best-in-class technology. Reliability and quality were primary considerations for us, given our commitment to safeguarding the environment and complying with the complex regulatory guidelines for ballast water treatment.”
Scorpio Tankers will also become a minority investor in Ecochlor. MID-SHIP Capital advised Ecochlor on the transaction.
“We are honored to have been selected by Scorpio Tankers as their BWTS compliance partner and welcome Scorpio Tankers as a shareholder in our company,” said Steve Candito, CEO, Ecochlor. Scorpio Tankers has a reputation of being a leading owner and operator in the tanker industry. Their commitment to excellence along with the superior efficacy of our treatment system and lifetime commitment to servicing their vessels will guarantee compliance for their fleet worldwide.”
Scorpio Tankers is a leading international provider in the transportation of refined petroleum products. The product carriers that will be retrofit with the Ecochlor System range between 38,000 to over 100,000 DWT. Installations are expected to begin in Q4 of this year and continue to the end of 2022.
Scorpio Tankers currently owns or finance leases 109 product tankers (38 LR2 tankers, 12 LR1 tankers, 45 MR tankers and 14 Handymax tankers) with an average age of 3.0 years and time or bareboat charters-in 17 product tankers (two LR2 tankers, eight MR tankers and seven Handymax tankers).