Scorpio Tankers Awards BWMS Retrofit Contract
Choice Ballast Solutions announced it has expanded its collaboration with Scorpio Ship Management S.A.M., as agent for certain vessel-owning subsidiaries of Scorpio Tankers Inc., by contracting to provide turnkey integration engineering and project management services for ballast water management system (BWMS) installations on board an additional 39 vessels.The previous contract with Scorpio Tankers on 12 ships of the Duchessa Class is already underwaywith recently completed Engineering Design and Shipyard Installation packages for the STI Duchessa and STI Opera.John Dooley…
Scorpio Tankers Sells, Leaseback Six MR Product Tankers
Scorpio Tankers announced that it has agreed to sell and leaseback six MR product tankers (STI Opera, STI Virtus, STI Venere, STI Aqua, STI Dama, and STI Regina) to China Huarong Shipping Financial Leasing Co., Ltd. Upon completion, the Company’s liquidity is expected to increase by $48 million in aggregate after the repayment of outstanding debt. These lease financing arrangements are part of the Company’s new financing initiatives that were announced on April 25, 2018. As part of the agreements, the Company will bareboat charter-in the vessels for a period of eight years. In addition, the Company has purchase options beginning at the end of the third year of each agreement. There is also a purchase obligation for each vessel upon the expiration of each agreement.
Scorpio Tankers Increase Q1 2014 Dividend
Scorpio Tankers Inc. has reported its results for the 3 months ended March 31, 2014 including the announcement of a US$100-Million stock buyback program and a quarterly dividend for shareholders. Closed on the previously announced sales agreement of seven VLCCs under construction for a gain of $51.4 million. Took delivery of three MR tankers under the Company's Newbuilding Program, STI Texas City, in March 2014, and STI Opera and STI Duchessa, in January 2014. Converted the Newbuilding Credit Facility from a term loan into a reducing revolving credit facility giving the Company the ability to draw down and repay the available commitments under the facility when needed.
New Tankship Joins Rapidly Expanding Scorpio Fleet
Scorpio Tankers Inc. inform they have taken delivery of another MR product tanker newbuilding in their ambitious newbuilding programme, 'STI Opera', from Hyundai Mipo Dockyard Co., Ltd. of South Korea. The owners add that the new vessel will be chartered-out for up to 120 days at approximately US$19,000 per day. Scorpio Tankers Inc. Of these newbuildings, 43 are expected to be delivered to the Company in 2014, 16 in 2015 and four in 2016. The Company also owns 30% of Dorian LPG Ltd.
