Pangaea Logistics Solutions has given a clear thumbs down to using exhaust gas scrubbers as a way to meet IMO 2020, having voiced a "wait-and-see" approach in the past.
Chief executive Ed Coll gave several reasons why spending big money on these kits, which cost about $2m each, without fully knowing the risks is a bad idea.
"As a business, the idea of investing huge amounts of capital into scrubbers, we see it as a very risky idea and difficult to quantify," he said Friday during a third-quarter earnings call.
