As a result primarily of the COVID-19 pandemic, customers have significantly reduced their output of vehicles. With that comes a reduction in revenues and we are taking all necessary steps to reduce cash outflows,

...a spokeswoman told Reuters.

This comes in line with s generic trend of ship owners who have recently been "ignoring the global sulphur cap" and postponing or cancelling the installation of 'scrubbers', in a bid to save money during the COVID-19 pandemic, Nautilus International reported.

With one scrubber costing around $2 million, fleet operators face costs of over $100 million.