Asia/Pacific News
Four More Tanker Orders for Scorpio
Monaco-based Scorpio Tankers Inc. (Scorpio) [NYSE:STNG] says it has ordered four more fuel-efficient MR product tankers for $32.5 million each, bringing the company's total number of newbuilding orders for such vessels to 16.
SPP Shipbuilding Co. Ltd. (SPP) of South Korea is scheduled to deliver the tankers in the third and fourth quarters of 2014.
Two of the four tankers represent the exercise of options from a previous contract, and the deal includes extensions on previously agreed options as well as four new fixed-price options for vessels to be delivered in 2015.
Scorpio said last fall that its strategy includes growth through the addition of fuel-efficient tankers, and it announced six ship orders in December followed by additional orders in last month.
The company says its orders from SPP and Hyundai Mipo Dockyard Co. Lt., also of South Korea, include two tankers to be delivered in April 2013 and another 14 scheduled for delivery next year.
