Scorpio Bulkers calls out 'apologists' for undercapitalized shipowners in sulphur cap debate

Bahamas, Liberia, Marshall Islands, Panama, Bimco, Intercargo and Intercargo have co-sponsored and submitted paper to the IMO’s Marine Environment Protection Committee (MEPC 73) meeting proposing an experience-building phase (EBP) The proposal has created controversy although the parties say it is intended as an institutionalized data gathering measure and does not delay the implementation or enforcement of the sulphur cap.

Asked in its third quarter results call about the possibility of an EBP Scorpio Bulkers, COO, Cameron Mackay said: ”Now different constituents of the IMO obviously have their own agendas.

“So I would say much towards disappointment Intertanko and some of the larger flag states don’t really represent our interest either in the short term or the long term. I’d call them more apologists for your typical small undercapitalized shipowner who obviously seeks a delay, doesn’t have the capital to install a scrubber,” he was quoted as saying a transcript published by Seeking Alpha.

Scorpio has made a significant investment in scrubbers to comply with the sulphur cap announcing plans last week to install 56 exhaust gas cleaning units to its owned and leased ultramaxes and kamsarmaxes at between $1.5m to $2.2m per unit.

On reported moves by US President Trump to withdraw the US from the sulphur cap he said: “Trump, I think most people believe, is looking to high gasoline prices with some sort of interest in talking them down. Of course the US could withdraw from the regulation but that doesn’t change what happens in the rest of the world and furthermore there is some debate over whether that change is what happens in the states and their own local courts.”