Norwegian shipower and operator Belships shows 2020 hand with bunker price hedge instead of installing expensive scrubbers. Oslo-listed Belships has inked a deal to hedge the price differential between compliant 0.5% sulphur fuel oil and 3.5% sulphur fuel oil. Belships’ CEO Lars Christian Skarsgard explained that “bunker price hedge” is more efficient and cost-effective way, where Belships will not have to take any ships out of service. Norwegian shipower and operator Belships mainly operates supramax bulk carriers and prefers to “bunker price hedge” which will not be required to invest in much-hyped scrubber technology. Nasdaq-listed Eagle Bulk Shipping is one of the outliers in the supramax sector in opting for the scrubber technology. Scrubbers are mainly prefered on among the larger bulk carriers. Belships says its initial move has secured exposure for 24,000 tons of bunkers for 2020 at a fixed price differential of $198 per ton. Belships’ trading fleet will be physically ready by January 2020 to comply with the International Maritime Organisation (IMO) sulphur cap regulations. According to Belships, bunker price differential hedge reduces downside risks and represents an efficient alternative to costly installations of scrubbers, whilst retaining full utilization of the fleet and the flexibility to adjust the position as the market develops. Installing scrubbers would cost Belships around $3 million to $4 million per ship to fit scrubbers on its supramax bulk carriers. Furthermore, these supramax bulk carriers would be at the shipyard for 3 to 4 weeks each to install scrubber. Norwegian shipower and operator Belships has been a dominant player in the supramax sale and purchase market. Belships has a fleet of 18 bulk carriers and 1 newbuilding for delivery in 2020. Oslo listed Belships was historically known for employing ships on period deals. Belships’ charter strategy is more mixed after merger with spot cargo focused Lighthouse.