Scorpio Tankers Buys Minority Stake in Ecochlor

TankerIllustration; Image Courtesy: Pexels, Under CC0 License Licence

Monaco-based shipowner Scorpio Tankers has signed an agreement to purchase 55 ballast water treatment systems (BWTS) from Boston-based manufacturer Ecochlor.

Installations are expected to begin in the fourth quarter of 2018 and continue to the end of 2022. Scorpio Tankers will also become a minority shareholder in Ecochlor.

“We are delighted to be working with Ecochlor, given their best-in-class technology. Reliability and quality were primary considerations for us, given our commitment to safeguarding the environment and complying with the complex regulatory guidelines for ballast water treatment,” Emanuele Lauro, Chairman & CEO of Scorpio Tankers, said.

Scorpio Tankers currently owns or finance leases 109 product tankers with an average age of 3.0 years and time or bareboat charters-in 17 product tankers.

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