Clarksons Research believes the remaining 700 scheduled scrubber retrofits could be cancelled or postponed.
Stephen Gordon, managing director of the research division of London-listed broker Clarksons, said the orderbook is "vulnerable" following a slowing of installation activity.
This was due first to coronavirus-linked yard disruption in China, which carried out 76% of global retrofits last year, and more recently by the closing of the fuel spread.
