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Scorpio Tankers benefits from premiums for scrubber fitted tankers

Scorpio Tankers has shared that LR1 tankers equipped with scrubbers are earning more than those without scrubbers for the company’s time charter revenue thus far in the first quarter of 2020.

Scorpio Tankers said on Wednesday that scrubber fitted LR2 tankers in its pool earned a premium of approximately $5,300 a day during January 2020 compared to non-scrubber fitted ships in the pool. The LR2 tankers including both scrubber fitted and non-scrubber fitted units earned an average of $25,000 a day for 70% of the days.

For LR1 tankers, scrubber fitted vessels earned a premium of approximately $5,400 a day during January 2020 when compared to non-scrubber fitted units. The average earnings for the pool were around $19,000 a day for 80% of the days.

For MR tankers, scrubber fitted vessels earned a premium of around $2,800 a day during January 2020 compared to non-scrubber fitted vessels in the pool. The MR pool generated approximately $22,000 a day for 60% of the days.

In October 2018, Scorpio Tankers announced it planned to install 15 scrubbers on LR2 tankers as well as to install scrubbers to all its remaining 75 owned and leased tankers with retrofittings to take place between the second quarter of 2019 and the second quarter of 2020.

Since the start of 2020 under IMO's Marpol Annex VI regulation, all ocean-going ships are required to burn marine fuels with a maximum sulphur content of 0.5%, or be fitted with scrubbers, or exhaust gas cleaning systems, if they wish to continue using high sulphur fuels.

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