Greek dry bulk owner Star Bulk Carriers has announced its intention to equip its entire fleet with scrubbers before the January 2020 implementation date for new IMO sulfur emission regulations.
Star Bulk expects average costs, including installation, to be below $2m per vessel and it has secured debt financing to cover up to approximately 70% of the cost while the remaining costs will be covered from operating cash flow and cash on hand.
The company has also secured contracts with some shipyards for the installation of the scrubber systems.
Including the upcoming deliveries, Star Bulk, the largest New York-listed bulker owner, has a fleet of 111 vessels with a total capacity of 12.67m dwt.
