LiqTech wins biggest scrubber order

The order, worth US$8.4 million, was placed by one of the world’s three largest shipping companies and follows the recent installation and system deployment by this same customer on the two largest container ships in the world. The new orders are expected to be delivered starting in late 2019, with completion in 2020.

Sune Mathiesen, chief executive of LiqTech, said, the order reinforced LiqTech’s position as a leading supplier of ceramic silicon carbide water filtration systems for marine scrubbers. “We continue to see strength in marine scrubbers as an effective compliance solution to IMO 2020 regulations, particularly from new Asian suppliers who have recently entered the market and are using LiqTech systems as an effective solution for closed loop applications,” he said.

Company revenue for the third quarter of 2019 is expected to be approximately US$10 million and the margin optimisation programme should generate further improvement in the third quarter and is on target to exceed 30% in the first half of 2020.

Bookings during the third quarter of 2019 for marine applications remain strong and the planned expansion in manufacturing operations remains on track and is expected to triple the company’s current manufacturing capacity by July 2020.

Based on industry data, the company currently maintains a significant market share for closed loop marine scrubber filtration installations. By the end of 2019, industry forecasters estimate approximately 4,000 open loop installations of which LiqTech believes many will need future conversion to closed loop systems.