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.