Scorpio Tankers Arrange Funds for Newbuildings

MarineLink.com
Thursday, August 29, 2013
Scorpio Tankship: Photo courtesy of Scorpio Tankers

Scorpio Tankers (having placed orders for 60 newbuilding vessels) announce a loan facility, market underwriters' share purchase option, as well as two time charter-in agreements.

Scorpio Tankers Inc. has received:
(i) a Commitment Letter from a leading financial institution of $129 million
(ii) a Letter of Intent from The Export-Import Bank of Korea (KEXIM) of up to $300.6 million for a loan facility of up to $429.6 million that is being arranged by the financial institution.
The KEXIM Credit Facility would be used to finance up to 60% of the purchase price of newbuildings upon delivery.

Exercise of Underwriters' Over-Allotment Option
The Company also announced that the underwriters in its previously announced public offering of 20,000,000 common shares exercised their over-allotment option to purchase 3,000,000 additional common shares at the offering price of $9.50 per share, and have received net proceeds of about $209.6 million.

Time Charter-in Agreements
The Company has agreed to time charter-in two Handymax product tankers consisting of:
 •    A Handymax product tanker (37,412 dwt, 2007 built) for one year at approximately $12,500 per day. The Company also has the option to extend the charter for an additional year at $13,250 per day. This vessel is expected to be delivered prior to the middle of October 2013.
    •    A Handymax product tanker (37,455 dwt, 2007 built) for eighteen months at approximately $12,500 per day. The Company also has the option to extend the charter for an additional year at $13,500 per day. This vessel is expected to be delivered prior to the middle of October 2013.
 



 

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

People & Company News

SUNY Maritime College Names ABS Chairs

The State University of New York (SUNY) Maritime College has selected Dr. Richard Burke and Dr. Christopher Clott as its inaugural ABS chairs following a comprehensive

Austal Starts Next US Littoral Combat Ship

Austal and the U.S. Navy held a keel-laying ceremony today for the future USS Manchester (LCS 14), marking the first significant milestone in its construction.

Conference to Delve into Hybrid Power & Propulsion

The first international Hybrid Marine Power & Propulsion Conference will be held at the RNLI Lifeboat College, Poole UK from October 6-8, 2015.   Shock Mitigation

Shipbuilding

AOD Orders 2 Jack-up Rigs at CSSC Huangpu Wenchong

CSSC Huangpu Wenchong Shipbuilding Company has won an order to build a pair of jack-up drilling rigs for Alliance Offshore Drilling (AOD), subsidiary of Hong Kong-listed TSC Group.

Tuco Reveals New Naval Interceptor Vessel Design

Following last week’s Seawork exhibition on workboats and small military and security vessels, Tuco Marine of Denmark reveals its newest vessel in the ProZero line.

Austal Starts Next US Littoral Combat Ship

Austal and the U.S. Navy held a keel-laying ceremony today for the future USS Manchester (LCS 14), marking the first significant milestone in its construction.

Tanker Trends

Container Ship and LPG Tanker Collide near Surabaya

LPG tanker Navigator Aries (23,333 dwt, built 2008), and containership Leo Perdana (33,423 dwt, built 2007) collided yesterday in waters off Gresik, nearby the Port of Tunjung Perak in Surabaya,

Hyundai Sees Mega Ships Leading Global Demand

As the demand for mega vessels has increased, Hyundai Heavy Industries Co. expects mega- sized container ships to lead global orders until early next year as shipping

Canada Slaps Sanctions on Russia Energy Firms

Canada slaps sanctions on Gazprom, other Russia energy firms   Canada is imposing economic sanctions against Russian energy firms such as natural gas producer

Finance

Savannah Port Sets Cargo Record

Port of Savannah set records for both container volumes and total tonnage in May, with the highest tonnage ever recorded in a single month.   The Port of Savannah has handled more than 338,

Multimodal Freight Bill Introduced in US Senate

Cantwell, Booker, Murray, Markey introduce freight investment legislation aiming to eliminate chokepoints at critical highway, rail, port and intermodal facilities to support economic growth,

Crowley Acquires 4,300 Pieces of Liner Equipment

In response to continuing high customer demand, Crowley Maritime Corporation’s liner services group has placed orders for additional equipment, including hundreds

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Port Authority Ship Electronics 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: 0.3127 sec (3 req/sec)