Scorpio Tankers' Latest Sale & Purchase Deals

MarineLink.com
Wednesday, April 16, 2014
Scorpio tanker: Photo courtesy of the owners

Scorpio Tankers says it recorded a gain of US$51-million from the sale of the 7 VLCC newbuilding contracts announced earlier.

In March 2014, the Company received the proceeds from the sale of the seven VLCC newbuilding contracts and recorded a gain of $51 million in the first quarter of 2014.

In addition Scorpio says it:

  • took delivery of STI Texas City,
  • finalized the previously announced sale agreements of Noemi and Senatore
  • reported that the sale agreement of STI Spirit is expected to be finalized before the end of April 2014.

At the end of March 2014, the Company informs that it took delivery of STI Texas City, an MR product tanker newbuilding from SPP Shipbuilding Co., Ltd. of South Korea, which began a two-year time charter at a current market level plus a profit sharing component upon delivery.

The loss related to the sales of Noemi and Senatore, 2004 built LR1 product tankers, was recorded in the fourth quarter of 2013.

The loss related to the sale for STI Spirit, 2008 built LR2 product tanker, was also recorded in the fourth quarter of 2013.

About Scorpio Tankers Inc.
The Company is a provider of marine transportation of petroleum products worldwide. It currently owns 20 tankers (one LR2 tanker, two LR1 tankers, one Handymax tanker, 15 MR tankers, and one post-Panamax tanker) with an average age of 3.1 years, time charters-in 28 product tankers (eight LR2, five LR1, seven MR and eight Handymax tankers), and has contracted for 55 newbuilding product tankers (29 MR, 12 LR2, and 14 Handymax ice class-1A product tankers), 42 are expected to be delivered to the Company throughout 2014 and 13 in 2015.
 

Maritime Today


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

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

People & Company News

Bollinger Wins Contract for Phase II FRC Builds

Louisiana shipbuilder Bollinger Shipyards announced it has secured a contract to build Phase II of the Sentinel Class Fast Response Cutters (FRC) for the United States Coast Guard (USCG).

Asia Dry Bulk-Capesize Rates Under Pressure

Capesize rates fall in a quiet market as holidays weigh; 20 charter-free capesize ships could add to downward trend. Freight rates for large capesize dry cargo

Egypt to receive first LNG shipment from Rosneft in May

Egypt will receive the first of five agreed shipments of liquefied natural gas (LNG) from Russia's Rosneft this month, an official at the state gas board EGAS told Reuters on Thursday.

Tanker Trends

Egypt to receive first LNG shipment from Rosneft in May

Egypt will receive the first of five agreed shipments of liquefied natural gas (LNG) from Russia's Rosneft this month, an official at the state gas board EGAS told Reuters on Thursday.

NASSCO Delivers First ECO Class Tanker for SEA-Vista

On Thursday, April 28, 2016, General Dynamics NASSCO delivered the first ship in a series of three ECO Class tankers currently under construction for SEA-Vista LLC.

Crowley to Christen 3rd LNG-ready Product Tanker

Crowley Maritime Corp. announced it will hold a christening ceremony Thursday, May 5 in New Orleans for the newly built Louisiana, the company’s third of four new Jones Act product tankers.

Ship Sales

Massive Layoff Ahead for Hyundai Heavy

Another massive reduction in the Korean shipbuilding workforce may come as most shipyards are still struggling with falling orders and mounting losses, reports Yonhap quoting industry sources.

Daewoo Shipyard Posts Q1 Operating Loss

South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co. posted a first-quarter loss after incurring more costs to finish some offshore projects.   First-quarter

French PM: Aussie Subs to be built in Australia

French Prime Minister Manuel Valls said on Monday he was committed to building all of a new Australian submarine fleet in Australia, apparently contradicting the

Finance

Asia Dry Bulk-Capesize Rates Under Pressure

Capesize rates fall in a quiet market as holidays weigh; 20 charter-free capesize ships could add to downward trend. Freight rates for large capesize dry cargo

Daewoo Shipyard Posts Q1 Operating Loss

South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co. posted a first-quarter loss after incurring more costs to finish some offshore projects.   First-quarter

Yilport Acquires Sweden's Gavle Terminal

Turkish terminal operator Yilport Holding has gained full control of Gävle’s terminals.   Yilport Holding acquired 100% shares of Gävle Container Terminal (GCT) and Baltic Sea Gateway (BSG).

 
 
Maritime Careers / Shipboard Positions Naval Architecture Navigation Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction 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: 0.0864 sec (12 req/sec)