Scorpio Tankers agrees to install bunker fuel emulsion system

Scorpio Tankers said it has agreed to install the Fowe Eco Solutions Ltd. (FOWE) fuel emulsion systems across its entire fleet.

Development expected to result in an overall reduction of at least 3% in bunker fuel costs and 100,000 tons of carbon emissions annually.

The terms of the licensing agreement will require no material upfront costs for Scorpio Tankers and is expected to result in an overall reduction of at least 3% in bunker fuel costs and 100,000 tons of carbon emissions annually.

The final licensing agreement is subject to customary documentation and closing conditions, and it is expected to be signed within the first quarter of 2024.