According to a Ship & Bunker article, scrubbers investment is slowly and gradually paying off. The scrubbers manufacturer DHT Holdings made this point as the company declared that they has already earned back 30.6% of its capital expenditure on scrubber installations in fuel savings, the news agency reported the company stating this.
“Six more scrubber installations have been delayed due to the strong market conditions,” it said.
How did they do it?
- By 2019 year end 12 ships completed scrubber installation at a cost of $47.7 million.
- 3 vessels have bunkered HSFO instead of VLSFO approximately 15times, which reduced the cost by $14.6 million
- HSFO was purchased at discount of $304/mt. as compared to VLSFO
- HSFO is going at a discount of $277/mt compared to VLSFO in Rotterdam last Thursday, reported Ship & Bunker fuel pricing
- The company paid an additional $45 million for scrubbers credit facility at a cost of Libor plus 2% along with the equipment running cost.
- $6.7 million was spent on off hire expenditure as the ships awaited retrofitting at the yards for 37.2 days on an average.
- Despite all the added expense, DHT could make a profit by making the right bunker purchase at the right moment.
What does this mean?
This shows how proper fuel purchasing at the right instance can effect in lowering the costs. We cannot mitigate the essential scrubbers retrofitting costs but we can be judicial in our spending.
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Source: Ship & Bunker
