Shipping moves to a two-tier market with scrubber fitted and compliant fuelled ships

It is our view and belief that the majority of shipping companies do not consider buying exhaust gas scrubber systems to meet IMO 2020 compliance because they do not see it as an attractive investment opportunity.

However, there is a significant number of companies which see scrubbers as an investment expecting to produce a nice reward ratio for their cash. They believe that fuel price spreads between high sulphur fuel oil and marine gas oil, fuel availability, technical issues and charter rates will be significant.