Scorpio Awards Six Newbuild Tankship Contracts

Press Release
Tuesday, December 11, 2012
A Scorpio Tankship: Photo credit Scorpio Tankers

Scorpio Tankers Inc executes options with Korean shipyards Hyundai Mipo Dockyard & signs intent with SPP Shipbuilding Co.

Two MR product tankships are to be built by Hyundai Mipo anf four with SPP Shipbuilding. The six newbuildings are scheduled to be delivered to Scorpio in the second and third quarters of 2014. The Company also has fixed-price options to construct eight additional MR product tankers. The contract price for each of the newbuildings and fixed-price options is approximately $33.0 million.

Emanuele Lauro, chief executive officer and chairman of the Scorpio Tankers board commented, "We are pleased to announce the agreements for six additional 'eco' newbuildings, plus fixed-price options, subsequent to our recently completed equity offering. We are delighted by the support of our shareholders as we establish a leading position in the product tanker market. As we approach what is traditionally the strongest season, we are seeing stronger rates across all of our sectors."

Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. They currently own one LR2 tanker, four LR1 tankers, one Handymax tanker, five MR tankers, and one post-Panamax tanker with an average age of 4.7 years, time charters-in 18 vessels (three LR2, three LR1, seven MR and five Handymax tankers), and has contracted for eleven newbuilding MR's (three are expected to be delivered to the Company in the first half of 2013 and the remaining eight by the end of September 2014).

 

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Royal IHC Launches Sapura Jade

Royal IHC has named and launched the pipelaying vessel Sapura Jade in a ceremony at the company’s shipyard in Krimpen aan den IJssel, The Netherlands.   The

Siemens Wins Vessel Electrical Installation Contract

Nautilus Minerals Inc. announces that the order for the supply of the entire electrical installation for the production support vessel has been awarded to Siemens International Trading (Shanghai) Ltd.

Delivery Begins for HMS Prince of Wales Bridge

The bridge section of the U.K.’s second Queen Elizabeth Class aircraft carrier has been loaded out of its dock hall in Glasgow ahead of its first sea voyage to Rosyth.

Tanker Trends

New Tanker Designs Feature Reduced Ballast Capacity

‘Clear Advantage’ tanker design series is reported to reduce ballast requirements by 40%. Ready to be built, the designs combine operational and environmental performance

Stena Bulk Charters Out LNG Carrier

Stena Bulk has signed an agreement covering the charter of the LNG carrier Stena Blue Sky for the North West Shelf Project in Australia. The duration of the

Liner Service Reliability Jumps to 64%

According to Drewry Supply Chain Advisors, liner shipping service reliability on the three East-West trades showed an aggregate on-time performance of 64% in March - a five-month high.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Port Authority Salvage Ship Repair Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.6127 sec (2 req/sec)