NYK Line has struck a 50-ship deal with Chinese repair yards to fit ballast water treatment systems and scrubbers to some of its dry bulk fleet.
The move comes as Japan’s big three shipping companies step up efforts to comply with IMO 2020.
It appears NYK, which controls 750 ships, is leveraging its considerable purchasing power to strike a price-competitive, all-inclusive bulker deal with the unnamed Chinese yards at a time when dry-dock space is scarce.
According to sources, the deal mostly involves fitting scrubbers to its capesizes and VLOCs, including owned ships or those controlled through long-term charters by NYK out of its fleet of 400 bulkers.
The installations will be scheduled during special survey dry-dockings, when ballast water treatment systems are also due to be fitted.
The move hedges the 2020 risk by committing some of the bulker fleet to using high-sulphur fuel and scrubbers, with the rest using low-sulphur bunkers. NYK has already reportedly booked low-sulphur fuel oil through the fuel futures market ahead of the IMO 2020 January deadline.
TradeWinds reported last month how NYK secured a ¥9bn ($80.6m) green syndicated loan to fit its vessels with scrubbers. The Japan Credit Rating Agency gave the loan a “Green 1” rating based on meeting several environmental criteria.
The scrubber installation project also fits with NYK’s medium-term business plan, which seeks to build a business based on environmental performance and digitalisation.
