Wärtsilä President and CEO Bjorn Rosengren has opined that majority of ship operators would be opting for the scrubbers to meet the demand of 0.5 percent global sulfur cap for marine fuels as made mandatory by the year 2020 or 2025. With the proper legislation in place, this will serve as a new market. He has booked five orders during the second quarter for Wärtsilä, being considered as a good product with good market share for scrubbers. But the growth of scrubbers is lower than expected, as operators are happy using low-sulfur and economical fuel for compliance. Still, Rosengren is optimistic about scrubbers, as they have a bright future with a bigger market and especially for China.
Ferry and Cruise industries are quick in adopting the technology whereas merchant segments are slowly adopting them.
Looks like majority of the ship owners are fence sitting, unable to decide about the return on additional investment, especially in current dried out shipping finance. Responsible environmental NGOs should take initiatives to encourage potential institutional investors to allocate a fraction of their investment in this long term profit making environmental projects. If solar and wind energy could attracted such investments, what is lacking for the support of reducing GHG emission from Marine plants.
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