Economou’s TMS Group signs scrubber deal for 53 vessels

Economou’s TMS Group signs scrubber deal for 53 vessels

George Economou’s TMS Group has signed a major deal with South Korean equipment company Panasia to acquire scrubber systems for its fleet.

Under the agreement, Panasia will supply its PaSOx De-Sox scrubber systems to a total of 53 vessels owned by TMS Tankers and TMS Bulkers. The total value of the contract is KRW75bn ($67m).

With less than 18 months to go until the IMO-mandated sulphur cap comes into place, more shipowners have chosen to install scrubbers for their fleets. Recently, major owners including Frontline, DHT and Spiethoff have all signed contracts to install scrubber systems on their ships.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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1 Comment

  1. M.T. Vassel
    July 10, 2018 at 9:31 pm

    The question is whether the recent surge in scrubber adoption is driven by economics or a sign that owners have no confidence in the quality supply of distillates immediately after 2020.