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.
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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.