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

Shipbuilding

Mercury Diesel Engines for 16 New USCG Boats

Mercury Marine has entered an agreement with Metal Shark Aluminum Boats to power 16 U.S. Coast Guard (USCG) boats with Mercury diesel engines.   “Mercury Marine’s 2.

HHI Launches Korea’s Second Minelayer

Shipbuilder Hyundai Heavy Industries (HHI) launched the second minelayer, MLS-II Nampo, for the Korean Navy.   In attendance at the MLS-II launching ceremony were Baek Seung-joo,

BMT Isis to Support NATO Submarine Rescue System

BMT Isis (BMT), a subsidiary of BMT Group Ltd, has announced that it will provide safety and environmental support for JFD’s five-year contract with the UK Ministry

Tanker Trends

Tankers Switch to Digital Navigation

In July 2015 international regulation requires all tankers to be compliant with IMO rules for the use of ECDIS and ENCs. As many shipping companies start planning

Tanker Demand Picks-up in Canada

Canada’s role in the oil industry has changed dramatically in recent years driven by synthetic crude oil production in the oil sands of Alberta.   New plans for Energy East,

Stena Sonangol Suezmax Pool Rings in 10 Years

Stena Sonangol Suezmax Pool celebrates 10 years of collaboration and trading.   The 10th anniversary celebrations took place in London on May 20. Today on May 26 it is Houston’s turn and,

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pod Propulsion Ship Repair Ship Simulators Sonar Winch
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: 0.1662 sec (6 req/sec)