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Scorpio Tankers Buys Minority Stake in Ecochlor

Monaco-based shipowner Scorpio Tankers has signed an agreement to purchase 55 ballast water treatment systems (BWTS) from Boston-based manufacturer Ecochlor.

Installations are expected to begin in the fourth quarter of 2018 and continue to the end of 2022. Scorpio Tankers will also become a minority shareholder in Ecochlor.

“We are delighted to be working with Ecochlor, given their best-in-class technology. Reliability and quality were primary considerations for us, given our commitment to safeguarding the environment and complying with the complex regulatory guidelines for ballast water treatment,”¬†Emanuele Lauro, Chairman & CEO of Scorpio Tankers, said.

Scorpio Tankers currently owns or finance leases 109 product tankers with an average age of 3.0 years and time or bareboat charters-in 17 product tankers.