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DGAP-News: Pacific Green Technologies Launches Innovative Fleet Management Pricing Agreement Structure For Marketing Its Exhaust Gas Scrubbing System To Ship Owners & Charterers
DGAP-News: Pacific Green Technologies Launches Innovative Fleet Management Pricing Agreement Structure For Marketing Its Exhaust Gas Scrubbing System To Ship Owners & Charterers.
About this update from Pacific Green Technologies Inc.
[{"type":"text","content":"\n\n\nDGAP-News: Pacific Green Technologies Inc. / Key word(s): Miscellaneous\n\nPacific Green Technologies Launches Innovative Fleet Management Pricing Agreement Structure For Marketing Its Exhaust Gas Scrubbing System To Ship Owners & Charterers \n29.08.2018 / 14:50 \n\n\nThe issuer is solely responsible for the content of this announcement.\n\n SAN JOSE, CA / ACCESSWIRE / August 29, 2018 / Pacific Green Technologies Inc. ('PGT') (OTCQB: PGTK), owner of the ENVI-MarineTM Exhaust Gas Scrubbing System (System), has in conjunction with PGT's Joint Venture partner PowerChina SPEM developed an innovative fleet management agreement for Ship Owners to reserve production slots for their vessels on either a Fabrication or Fabrication plus Install basis (Fleet Management Pricing Agreement).\nThe Fleet Management Pricing Agreement enables Ship Owners to fix pricing for their fleet based on each vessel's exhaust gas emissions (the Pricing Curve) in situations where the Ship Owner does not yet know the phasing of System installs on their Fleet (on a vessel by vessel basis). The Fleet Management Pricing Agreement enables the Ship Owner to optimize chartering opportunities while at the same time ensuring they will be compliant with the new IMO Regulations (for SOX emissions) to be enforced on 1 January 2020 (IMO Regulations).\nPGT will reset the Pricing Curve every 60 days to reflect increasing capacity constraints in both Manufacturing and Shipyard space due to the stricter IMO Regulations and the substantial increase in market demand for the System and for scrubbers in general. The Pricing Curve will next be reset on 1 September 2018 and every 60 days thereafter.\nNeil Carmichael, PGT's Chief Executive commented, 'The Fleet Management Pricing Agreement enables charterers and ship owners maximum flexibility as they can commit on the quantity of vessels but have flexibility to specify the exact ships much later with the substantial benefit of locking in advantageous pricing now.'\n About Pacific Green Technologies, Inc.\nPacific Green Technologies Inc. is focused on addressing the world's need for cleaner and more sustainable energy. The company's strategy is to build through organic development and acquisition, a portfolio of patented competitive cutting-edge technologies designed to meet increasingly stringent environmental standards.\...