Frontline ups scrubber installations to 40% of fleet

John Fredriksen's Frontline is installing scrubbers on another 12 vessels bringing the tanker owner to 20 ships that will be fitted with exhaust gas cleaning systems to comply with the 2020 0.5% sulphur cap.

Frontline has ordered an additional 12 scrubbers systems from Fenn Marine Scrubbers Inc in which the tanker company owns a 20% stake. It will take Frontline to over 40% of its fleet equipped with scrubbers with the majority installed prior to the sulphur cap comes into force.

Frontline had previously ordered six scrubbers from Fenn Marine and has two newbuildings being fitted with exhaust gas cleaning systems.

"Backed by the ongoing commitment and support from Frontline's largest shareholder, we have taken significant steps to modernize our fleet, decreasing the average age of our owned vessels to 4.7 years.  Following the committed installations, over 40% of our owned fleet will be equipped with scrubbers,” Robert Hvide Macleod, ceo of Frontline Management.

Read more: Euronav highlights scrubber concerns

The tanker owner could yet equip more its fleet with scrubbers.

“Further installations will be considered, and we are uniquely positioned to access scrubber capacity from Feen Marine.  We believe our actions will position the Company to generate significant earnings for our shareholders."

At the time Frontline invested in Fenn Marine Fredriksen's Heman Holdings agreed to buy scrubber systems for 14 vessels and options for a further 22 systems at fixed prices.

Posted 02 November 2018

© Copyright 2018 Seatrade (UBM (UK) Ltd). Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Seatrade.

Marcus Hand

Editor, Seatrade Maritime News