Tsakos Energy Navigation is reporting delays in scrubber installations.
On its second quarter earnings call Friday, the New York-traded gas and oil carrier told investors exhaust gas cleaner retrofits ahead of IMO 2020 were "longer than initially forecasted".
"Shipyards [are working] at full capacity to meet retrofitting requirements, which could keep longer a big part of the global fleet in shipyards, rather than trading" potentially leading to more scrapping, said chief operations officer George Saroglou.
