John Fredriksen has expressed little faith in exhaust gas scrubbers shortly after his US-listed Golden Ocean Group confirmed it would invest in the technology for 16 bulkers ahead of the IMO's 2020 emissions rules.
In a rare interview with TradeWinds, the Golden Ocean Group chairman and main shareholder describes scrubbers as “nonsense” and says he believes other alternatives will be available ahead of the 2020 deadline.
Golden Ocean is not the only company under the Fredriksen umbrella to be spending money on scrubbers.
In June, Oslo and New York-listed tanker owner Frontline announced a deal to buy a 20% stake in Feen Marine Scrubbers, with a plan to install scrubbers on up to 36 tankers.
Fredriksen is currently busy trying to dispose of elderly tankers in the Frontline fleet, exemplified by the recent sale of three 2002-built VLCCs to compatriot ADS Crude Carriers.
The oldest Frontline tanker is the 298,000-dwt Front Ariake (built 2001) and Fredriksen says the company is searching for a conversion project.
The owner is not ruling out selling tonnage for scrap either, including a green recycling deal.
“We follow the rules, but I am very anxious of not getting on the front page of your paper for problems concerning a scrapping incident. We have to be very cautious,” he says.
Fredriksen appears cautious about the tanker market short term.
“We are holding back, there is nothing we can do about the market,” he says, although he admits that large tankers are most appealing.
