Monaco-based drybulk company Safe Bulkers announced it is installing scrubbers in almost half of its fleet to meet the IMO’s global 2020 sulphur cap. The company said it reached this decision on the basis of the price differential between the compliant fuels and the 3.5% sulphur content HFO.
The company announced this releasing its financial results for the first quarter of 2019, Tuesday.
For its remaining fleet that will continue with fuel consumption by using compliant fuels, the company said it is progressing with preparation and ship implementation plans for a smooth and timely transition to the new fuels.
We started 2019 profitably despite the material weakness of the charter market amid trade-war concerns, disruption of trade patterns due to natural disasters and seasonality inherent in the industry. We are on schedule in implementing our environmental investments installing scrubbers in approximately half of our fleet during 2019 in anticipation of the effectiveness of the IMO sulphur cap regulations in 2020. We also remain committed to installing BWTS in each of our vessels. Overall, we remain confident that our company is well positioned ahead of the uncertainties and opportunities presented by the current operating environment,
…said Dr. Loukas Barmparis, President of the Company.
