- International Seaways (NYSE:INSW) has signed contracts with Clean Marine AS of Norway and a qualified system installer for the purchase and installation of exhaust gas cleaning systems (“scrubbers”) on seven of its modern VLCCs, with an option for a further three systems covering the remaining three modern VLCCs in its fleet, to be installed prior to January 1, 2020, when the new 0.5% IMO sulfur emission cap goes into effect.
- The seven scrubber units are intended to be funded with available liquidity.