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In its 2019 Sustainability Report published this week, Teekay says, ‘The scrubber in its present form is not an optimal solution to deal with the stringent and growing limitations to sulphur emission.

The company notes that the use of IMO 2020 compliant fuel ‘is congruent with Teekay’s philosophy of eliminating sulphur at source.’

The firm also noted that, while IMO 2020 compliant low sulphur fuels commanded a significant price premium over high sulphur fuel in early 2020, this price differential will narrow as more refineries adapt their configuration to produce straight run low sulphur fuels.

As such, ‘the price difference between compliant fuel and high sulphur fuel may not support the capital cost and out of service time required to fit a scrubber,’ the company stated in the report.

The use of open and closed loop study both carry operational challenges, says Teekay, noting that: ‘Scrubbers may also lead to an increased carbon footprint as extra power is needed for the scrubber system which can increase the quantity of CO2.’

Reviewing additions to its LNG fleet in 2019, the company highlighted the delivery of the Yakov Gakkel on 4 December last year, which marked the completion of its LNG order book.

Last year, 21 vessels were delivered to six different charterers ‘on budget and on or ahead of schedule’. This included nine M-type, Electronically Controlled, Gas Injection (MEGI) LNG vessel and six Arc7s at Daewoo Shipbuilding & Marine Engineering, two MEGIs at Hyundai Samho Heavy Industries and four dual fuel diesel electric (DFDE) vessels at Hudong shipyard in Shanghai.

Teekay noted that at the time of build the MEGI vessels were the most efficient solution available and the vessel design exceeds the Energy Efficiency Design Index specified for ships to be built in 2025.

It said its newest LNG vessels ‘carry ~20% more cargo compared to our earlier generations of LNG carriers, while also consuming 40% less fuel per day while sailing.

‘As a result, daily fuel consumption per cargo capacity has decreased by more than 50%.’

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