When the Scorpio Group decided in 2018 to go all-in on exhaust gas scrubbers as it prepared for the IMO 2020 sulphur cap deadline, management thought it was being conservative in estimating a $200 per tonne spread between high-sulphur and compliant fuels.
It has not quite worked out that way, and across public companies Scorpio Tankers and Scorpio Bulkers, the group has now deferred installation of 33 scrubbers until at least 2021, with some questioning whether they will be fitted at all.
