Scorpio Tankers Order Two More VLGC's

MarineLink.com
Monday, October 14, 2013
A Scorpio Tankship: Image courtesy of Scorpio Tankers

Scorpio Tankers Inc. has exercised options to construct two Very Large Gas Carriers (VLGC) in South Korea. The Company also took delivery of the twelfth MR product tankship vessel under its newbuilding program, 'STI Ville'.

VLGC Newbuildings
The Company has exercised options it held with Hyundai Samho Heavy Industries for the construction of two VLGC's for approximately $75.0 million each. These vessels are 84,000 cubic meter tankers designed for the carriage of LPG and are scheduled to be delivered in the first quarter of 2016.

Delivery of STI Ville
The Company took delivery of the twelfth MR product tanker under its newbuilding program at Hyundai Mipo Dockyard Co., Ltd. of South Korea, STI Ville. Upon delivery, the vessel began a time charter for up to 120 days at approximately $19,000 per day.

Scorpio Tankers Inc. currently owns 19 tankers (one LR2 tanker, four LR1 tankers, one Handymax tanker, 12 MR tankers, and one post-Panamax tanker) with an average age of 3.9 years, time charters-in 29 product tankers (eight LR2, four LR1, eight MR and nine Handymax tankers), and has contracted for 65 newbuilding vessels (28 MR, 12 LR2, and 14 Handymax ice class-1A product tankers, and 11 VLGC), 44 are expected to be delivered to the Company in 2014, 19 within 2015 and two in the first quarter of 2016.

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