Eagle Bulk has inked a firm order for 19 scrubbers with options for a further 18 units from an undisclosed manufacturer at around $2m per system including installation.
It said that it was working with a global engineering firm to minimise offhire of the vessels by carrying out a “signficant amount” of the retrofit work at sea, with all firm retrofits completed before 1 January 2020.
Gary Vogel, ceo of Eagle Bulk said: “Today’s announcement is the culmination of significant work and analysis, and we are excited to be able to position ourselves to not only meet the forthcoming sulphur emission regulations, but also to realize the economic advantage we believe scrubbers will provide.
“Additionally, we are confident that Eagle Bulk’s active owner-operator model will ensure that we can effectively maximize the returns on this investment and technology.”
With the global 0.5% sulphur cap coming into force on 1 January 2020 there has been a surge in owners deciding to install, particularly on large sized vessels such as very large crude carriers (VLCCs) and capesizes, with the number of units either installed or ordered now estimated 1,200 to 1,300 systems.