India’s The Great Eastern Shipping (GE Shipping) has earmarked up to $50m over the next four years to upgrade its fleet for compliance with IMO’s regulations on low-sulphur fuels and ballast water treatment systems (BWTS).
The plan for GE Shipping is to spend about $20m on fitting scrubbers on seven of its biggest ships, mostly large crude tankers, by December 2019, and another $30m on installing BWTS between 2019 and 2014 on all ships, according to G Shivakumar, Executive Director and CFO of the company.
Shivakumar noted that for BWTS, it will cost $1.5m to $2m to install it on a large tanker. “That is something you have to keep in mind because you do not get any (cost) benefit from that,” he added.
Source :- Dailyshippingtimes.com