Scorpio Sells Seven Tankers in Construction

MarineLink.com
Friday, March 14, 2014

Scorpio Tankers Inc. today announced that it has entered into an agreement whereby the company will sell its seven Very Large Crude Carriers (VLCCs) under construction for cash and record a gain of approximately $50 million.

The transaction is subject to the execution of definitive agreements and satisfaction of customary closing conditions and is expected to close by the end March 2014.

Subsequent to this transaction, the Company has 56 newbuilding product tanker orders with HMD, SPP, HSHI and DSME (30 MRs, 14 Handymaxes and 12 LR2s).
 

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