Scorpio Tankers Ink Six Newbuilding Contracts

Press Release
Thursday, February 28, 2013
Image credit Scorpio Tankers

Scorpio Tankers exercise options with Korea's Hyundai Mipo Dockard for altogether six new tankships.

The contracts are for the construction of four MR Product tankers for approximately $33.0 million each and two Handymax ice class-1A (37,000 DWT) product tankers for approximately $31.25 million each. The MR Product tankers were previously reserved for another owner, and two of these vessels will deliver in the second quarter of 2014 with the third and fourth vessels to be delivered in the third and fourth quarter of 2014, respectively. The two Handymax vessels will be delivered early in the third quarter of 2014.

These are a continuation of the Company's existing newbuilding program for fuel-efficient vessels. These newbuildings come with fixed-price options for the construction of four additional Handymax vessels as well as an extension on previously obtained fixed-price options.

The Company has a total of 26 newbuilding product tanker orders with HMD and SPP Shipbuilding Co., Ltd. of South Korea which include 20 MR and six Handymax ice class-1A vessels. Two of the newbuildings are expected to be delivered to the Company by April 2013 and the remaining 24 by the end of 2014. The Company also has fixed-price options to construct a total of 12 additional newbuilding product tankers at these yards.

Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide, currently owning 13 tankers (one LR2 tanker, four LR1 tankers, one Handymax tanker, six MR tankers, and one post-Panamax tanker) with an average age of 4.6 years, time charters-in 20 product tankers (three LR2, three LR1, nine MR and five Handymax tankers).

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

Shipbuilding

Van Oord Orders Subsea Rock Installation Vessel

Van Oord has ordered a new subsea rock installation vessel. Sinopacific Shipbuilding Group Shanghai will build the vessel at its Ningbo yard in China. The vessel will be delivered in 2016.

ClassNK Head Attends KOTC Delivery Ceremony

Noboru Ueda, Chairman and President of ClassNK attended the delivery ceremony for the M/T Al Yarmouk, constructed at Daewoo Shipbuilding & Marine Engineering Co.

Vard Orders Parat Electric Steam & Hot Water Boilers

During the last month, PARAT Halvorsen AS has collected four new boiler plant orders from the Vard Group and their multipurpose platform ships of Vard 1 08 design.

Tanker Trends

Algeria in Talks to Export Crude to Venezuela

Algeria is in talks to export crude oil to fellow OPEC member Venezuela, Algerian Energy Minister Youcef Yousfi said on Tuesday, confirming a Reuters report. Last week,

Joe Barton: Lift Oil Export Ban

A senior U.S. Congressman from Texas has come out in full support of the United States lifting the 40-year old ban on crude oil exports, putting him at odds with

Russia's Shipping Major Reports Strong 1H 2014

OAO Sovcomflot (SCF Group), Russia’s largest shipping company and a global leader in seaborne energy transportation and offshore services, has announced its financial

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics 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: 0.1564 sec (6 req/sec)