FM February 2021 News
We are pleased to be able to say that despite the ongoing pandemic and the low oil price, 2020 was a good year for Feen Marine.
In 2019 we had 28 systems for delivery in 2020 and with additional 52 new orders in 2020 it has been a busy year. Last year in 2020 we delivered 68 units and managed to Commissioned & Sea Trial of 49 Units.
Our reference list of Exhaust Gas Cleaning System consists of 104 units (16 VLCCs, 78 bulk carriers, 1 Chemical tanker, 2 container ships and 7 Container reefers).
16 of these orders were for new buildings in Japan and China, of which 11 have been delivered with 7 of it have been commissioned & Sea Trials. Remaining 4 systems are still in design process and will be delivered Q3 2021 – Q1 2022 and 1 system to be delivered March 2021.
With regards to our scrubber retrofit program, 88 systems have been ordered (76 were delivered and the remaining 12 systems are awaiting shipment schedule from owner).
Average installation time for retrofitting was around 20 days & the shortest time was around 12 days.
In 2020, we have managed to commissioning & successfully Sea Trial for 13 systems of Inert Gas Generator & 6 systems of Flue Gas System remotely at China & South Korea Shipyard.
So far 2021 has had a good start, with new building orders for 4 Japanese bulk carriers in January for EGCS & 8 New Build in China for Inert Gas Generator . We believe that the rising oil price and growing spread between HSFO and LSFO the requirement for scrubbers is likely to grow again.