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Seanergy Maritime completes scrubber retrofits on five capesizes

Seanergy Maritime Holdings Corp announced that it has completed its IMO 2020 compliance plan with the installation of scrubbers on five capesize vessels, or 50% of its owned fleet.

Seanergy said the costs of the scrubber program were borne by the vessels’ charterers under long term time-charters which were entered into in 2018 and 2019, with the last of these charters commencing on 19 December 2019.

The total investment by the charterers in Seanergy’s vessels exceeded $14m. The charterers consist of global commodities traders and utilities companies.

All scrubber systems installed by Seanergy are open-loop, U-type design built by Hyundai Materials Corporation of South Korea. The installations took place at Yiu Lian shipyard in Zhoushan, China.

“The completion of the scrubber installations and timely delivery of all ships under the respective period charters, as well as the proactive procurement of compliant fuel for our non-scrubber fitted ships, has ensured the successful transition of our company into the new regulatory environment,” said Stamatis Tsantanis, chairman and ceo of Seanergy.

“Most importantly, we achieved our goals as regards to the technological and environmental quality of our fleet, while enhancing the market value of our vessels with limited outlays from Seanergy and in close cooperation with our strategic partners,” he added.

During the second half of 2019, Seanergy procured sufficient quality of marine gas oil (MGO) at competitive pricing in order to cover the needs of the five non-scrubber fitted vessels for the majority of the first quarter of 2020.

Seanergy said the proactive procurement of 0.1% sulphur content fuel oil ensured the seamless compliance of the company’s non-scrubber fitted vessels while providing a hedge against the adverse movements in the price of compliant fuels.