40% of the World’s Container Fleet Now Equipped with Scrubbers
40% of the World’s Container Fleet Now Equipped with Scrubbers
As of September 6, 2024, 40% of the global container fleet has been outfitted with scrubber technology to reduce exhaust gas emissions. Alphaliner has reported that 1,353 fully cellular container ships, representing 12.4 million TEU or 41.1% of the current fleet, now have scrubbers installed — the highest proportion to date. This increase comes even as the industry looks towards new vessels powered by alternative green fuels to meet decarbonization goals.
The adoption of scrubbers has accelerated this year, driven by the surge in vessel deliveries. By the end of 2023, scrubbers were installed on 36% of the fleet, up from 32% the previous year. It has taken only eight months to achieve a further 5% increase, despite the growing size of the fleet.
This news coincides with an improvement in the fuel price differential for scrubber-equipped ships. While the price gap between heavy and light fuels has averaged USD 91 per ton this year, compared to USD 101 in 2023, the spread reached a four-month high at the end of August. The price difference between Rotterdam IFO 380 and VLSFO hit almost USD 110 by the end of the month.
These favorable conditions benefit scrubber owners, who also enjoy the additional ton miles generated by ships diverting around the Cape of Good Hope. A general reduction in bunker fuel prices, expected in the coming weeks, may provide further relief to carriers, as freight rates are predicted to weaken in the third and fourth quarters.
