Our authors examine the various finance scenarios for scrubbers in anticipation of IMO 2020.
Our authors look at the key issues for shipowners in contracts for the acquisition, transport, installation and commissioning of scrubbers to meet IMO 2020 sulphur requirements.
Star Bulk can now refinance part of the fleet it acquired from Augustea and York last year and ensures that their fleet will comply with the highest environmental standards through their retrofitting of scrubbers.
In light of the new IMO 2020 sulphur cap regulations, we recently advised BNP Paribas on the $439m SINOSURE-backed financing of 86 MSC scrubbers.
We advised BNP Paribas in connection with a loan facility of up to US$40m, to finance the purchase and installation of “scrubbers” on the fleet of vessels owned by Quantum Pacific Shipping
We advised MPC Container Ships ASA on its acquisition of exhaust gas cleaning systems, also known as scrubbers, to be retrofitted on selected vessels in its fleet.
“It was a pleasure working with DNB on this important transaction which enables Star Bulk to not only consolidate their existing debt…, but also ensures their fleet will comply with the highest environmental standards through their retrofitting of scrubbers”.
Read to find out about the potential challenges in relation to the financing of retrofitted scrubbers on an asset finance basis.