Scorpio Tankers: Latest Financial & Ship Delivery News

By George Backwell
Tuesday, July 22, 2014
Scorpio tankship: Photo courtesy of the owners

Scorpio Tankers Inc. says it has updated its stock buyback program; lists its latest new vessel deliveries, and gives the release date of its second quarter 2014 earnings report.

Stock Buyback Program

The company has purchased 6,327,861 of its common shares in the open market at an average price of $9.74 per share since July 1, 2014 under its $150 Million Stock Buyback Plan that was announced on June 30, 2014 and has $88.1 million remaining under the Plan.

During 2014, the Company has acquired 29.0 million of its common shares that are being held as treasury shares at an average price of $9.26 per share. 

The acquisitions include (i) 11,326,646 common shares that were purchased in the open market at an average price of $9.35 per share, (ii) 7,500,000 common shares at $8.94 per share that were acquired in exchange for 3,422,665 shares in Dorian and (iii) 10,127,600 common shares at $9.38 per share that were acquired in conjunction with the Company's offering of $360 million of Convertible Senior Notes due 2019.

As of July 22, 2014, the Company has 172,206,301 common shares issued and outstanding.

New vessel deliveries

  • Scorpio Tankers has recently taken delivery of four product tankers as follows:
  • STI Powai, an MR product tanker, was delivered in July 2014 from Hyundai Mipo Dockyard of South Korea. Upon delivery the vessel began a time charter for up to 120 days at approximately $18,000 per day.
  • STI Aqua, an MR product tanker, was delivered in July 2014 from SPP Shipyard of South Korea . Upon delivery the vessel began a time charter for up to 120 days at approximately $18,000 per day.
  • STI Pimlico, a Handymax Ice Class 1A product tanker, was delivered from HMD in July 2014. Upon delivery, this vessel began a time charter for up to 120 days at approximately $15,000 per day.
  • STI Elysees, an LR2 product tanker, was delivered from Hyundai Samho Heavy Industries in July 2014.

Q2 2014 earnings release date
The company says it will announce its second quarter 2014 earnings before the open of trading on the NYSE on Monday, July 28, 2014.
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

“Twiggy” Baker Wins BWT Puerto Escondido Challenge

Grant “Twiggy” Baker (ZAF) claimed victory today at the Puerto Escondido Challenge, besting a field of 24 of the world’s best big wave surfers in towering 20-to-35

Winners of International Seafarers' Welfare Awards

The winners of ISWAN's International Seafarers' Welfare Awards 2016 were announced on 24th June at a high-profile ceremony held in Manila, the Philippines. The

Maritime Needs More Women Power

United Nations  International Maritime Organization (IMO) Secretary- General Ki Tack Lim pushed for the increased involvement of women in the seafaring industry

Contracts

ABP orders Two Gottwald cranes

Terex Port Solutions (TPS) has received an order from Associated British Ports (ABP) for two electric Terex Gottwald Model 8 portal harbour cranes in the G HSK 8424 B four-rope grab variant.

POSH Bags Shell FLNG Contract

Singapore’s offshore marine services provider PACC Offshore Services Holdings Ltd. (POSH) has been awarded a contract to support Shell’s Prelude floating liquefied

Baltic Index up for Third Straight Session

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday, for a third straight session, on rising demand across all vessel segments.

Shipbuilding

Austal Delivers LCS 8 to US Navy

Austal Limited (Austal) (ASX:ASB) delivered the future USS Montgomery (LCS 8) to the U.S. Navy, during a ceremony held aboard the ship at Austal USA’s shipyard in Mobile, Alabama, USA on 23 June.

Conrad Shipyard Forms LNG Business Unit

Conrad Shipyard has formed a new business unit focused on LNG projects.   Conrad, builder of North America’s first LNG bunker barge scheduled for 2017 delivery,

Prince Charles Places Final Section of UK Aircraft Carrier

The second of the largest warships ever built for the U.K. Royal Navy, the Queen Elizabeth Class carrier HMS Prince of Wales, was given the royal seal of approval when HRH The Prince of Wales,

Tanker Trends

VL-exit?

Earlier this week spot returns in the VLCC market touched their lowest level since October 2014, with TCE earnings for Middle East/Japan (TD3) falling close to $20,

RS Rules Conform to the IMO Goal-based Standards

The rules of the Russian Maritime Register of Shipping are in conformity to the International Maritime Organization (IMO)goal-based standards (GBS), the IMO’s Maritime

Asia Tankers-VLCC Rates to Climb Slowly

Around 47 MidEast charters fixed for July loading so far; older tonnage and new vessels a drag on freight rates. Freight rates for very large crude carriers

Finance

VEB Guarantees $3 Bln of Yamal LNG Debt

Russian development bank VEB said on Friday it had provided a guarantee for $3 billion of debt to the Yamal liquefied natural gas (LNG) project, led by Russian gas firm Novatek.

US Oil Drillers Cut Rigs after 3 Weeks of Additions

U.S. oil drillers cut rigs this week for a 20th week this year after three weeks of additions, according to a closely followed report on Friday, as crude prices

World Stocks Tumble as Britain Votes for EU Exit

Global capital markets reeled on Friday after Britain voted to leave the European Union, with $2 trillion in value wiped from equity bourses worldwide, while money

 
 
Maritime Standards Navigation Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Repair Ship Simulators 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: 0.1225 sec (8 req/sec)