Swedish owner Stena Bulk has firmed up plans to install scrubbers on 16 tankers.

The company said the "major investment" will costs $55m and the work will take place before the IMO 2020 January deadline.

The shipowner had revealed a plan last year to fit the open-loop hybrid systems to 15 ships, with options for six more.

Now it has decided to retrofit 10 IMOIIMAXes, five suezmaxes and a standard MR. The MR vessel represents the one option declared.

The $55m figure includes the cost of taking the fleet out of service.

The payback time for recouping the outlay is between 1.5 and 2.5 years, it said.

This has already been secured by hedging the fuel spread, it added.

“We evaluated the different options and came to the conclusion that for our business by installing scrubbers we will secure greater availability of fuel for our vessels and by so limit our exposure to not finding the right fuel around the world and by that stay flexible in our trading," said CEO Erik Hanell.

"Even doing so we know it will require some changes and probably massive challenges in the planning logistically. We will however prepare ourselves best possible so that we can secure at least the same level of support to our customers as today."

The company said last year it had picked China's Shanghai Bluesoul Environment Technology to provide the kit.

The six options have to be declared before 2020. The company has three LNG carriers among its vessels.