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 June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

NSRP Risk Management Panel and SCA Joint Meeting

The National Shipbuilding Research Program (NSRP) Risk Management Panel will be meeting jointly with the Shipbuilders Council of America (SCA) November 5-6, 2014 in Virginia Beach, Va.

Scottish Sea Farms Takes New Vessel Delivery

Scottish Salmon Farms has taken delivery of its latest vessel – powered by twin Doosan V158TIH main engines supplied by WaterMota.   Designed by consultant naval

Fincantieri to Build Third New Princess Cruises Ship

Fincantieri says it has signed an agreement with Carnival Corp. to build  the new cruise ship for its Princess Cruises brand at a cost of about 600 million euros.

Tanker Trends

US DOE Approves Oregon LNG Export Project

The U.S. Energy Department said on Thursday it has approved Oregon LNG to export liquefied natural gas, as the Obama administration works through applications to

Kurdistan Says Crude Cargo Near Texas Legally Sold

A $100 million cargo of crude oil in a tanker near Texas was legally shipped and sold by Kurdistan, lawyers for the autonomous region in Iraq told a U.S. court in a letter seen on Thursday,

Kirby Reports Record Q2 2014

Record 2014 second quarter earnings per share of $1.31 compared with $1.11 in the 2013 second quarter, which included a $0.07 benefit due to the reduction of the United earnout liability.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Pipelines Pod Propulsion Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1806 sec (6 req/sec)