News / Scrubber retrofitting driving a spike in the charter market

Pic: Hanjin Heavy Industry & Construction Co

Ocean carriers are biting the bullet and agreeing charters for significantly higher daily rates as markets tighten ahead of IMO 2020.

The IMO’s maximum 0.5% sulphur content regulation for maritime fuel becomes law in less than 120 days and is widely seen as a ‘game-changer’ for the shipping industry.

Dry docks are said to be “full” of vessels requiring the fitting of scrubbers, and reports are emerging of the installation process taking some two weeks or more over estimates of 25-30 days, ...