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Scrubbers at forefront of safe bulkers’ compliance solution

Monaco-based dry bulk shipping company Safe Bulkers is getting ready for
the IMO 2020 rule with scrubbers at the forefront of its compliance solution.

The company is installing exhaust gas cleaning devices in almost half of
its fleet, having decided to compete for such vessels on the basis of the price
differential between the compliant fuels and the 3.5% sulfur content heavy fuel
For its remaining fleet, that the company has decided to compete on the
basis of fuel consumption by using compliant fuels, Safe Bulkers is progressing
with preparation and ship implementation plans for a smooth and timely
transition to the new fuels.
“We are on schedule in implementing our environmental investments
installing scrubbers in approximately half of our fleet during 2019 in anticipation
of the effectiveness of the IMO sulphur cap regulations in 2020,” 
Loukas Barmparis, President of Safe Bulkers, said.
“We also remain committed to installing ballast water treatment systems
in each of our vessels. Overall, we remain confident that our company is well
positioned ahead of the uncertainties and opportunities presented by the
current operating environment.”
The company has obtained environmental notation for 39 out of 41 of its
vessels for the prevention of sea and air pollution, and it is in the process
of obtaining such class notation for the remaining two units.
During the three month period ended March 31, 2019, Safe Bulkers
delivered a net income of USD 5.4 million compared to USD 6 million reported in
the same quarter a year earlier.
Net revenues increased by 11% to USD 48.3 million from USD 43.5 million
reported in the same period in 2018, mainly as a result of an increase in the
average number of vessels.
“We started 2019 profitably despite the material weakness of the charter
market amid trade-war concerns, disruption of trade patterns due to natural
disasters and seasonality inherent in the industry,” 
World Maritime News

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