World News
Eight More Fuel-Efficient Ship Orders for Scorpio Tankers
Scorpio Tankers Inc. [NYSE:STNG] (Scorpio Tankers) says it has ordered eight new vessels, bringing the number of ships it has on order to 60.
The company is having four very large gas carriers (VLGCs) built at two South Korean shipyards, Hyundai Samho Heavy Industries (HSHI) and Daewoo Shipbuilding and Marine Engineering Co., Ltd. (DSME), for about $75 million each.
The 84,000 cubic meter gas carriers are scheduled for delivery in the third and fourth quarters of 2015, and the contracts also include options for additional vessels.
Scorpio has also ordered four fuel-efficient product tankers, two MR and two Handymax ice class-1A fuel vessels, from Hyundai Mipo Dockyard Co., Ltd. (HMD) of South Korea.
The 52,000 dead-weight tonne (dwt) MR product tankers will cost about $35 million each and be delivered in the second quarter of 2015, while the 37,000 dwt ice-class tankers will arrive in the fourth quarter of 2014.
Scorpio Tankers also took delivery of its 11th MR product tanker under its newbuilding program, STI Fontvieille, which immediately began a $19,000-per-day time charter that will last up to 120 days.
The company, which ordered 54 new vessels over a six month period ending earlier this year, recently announced a $190 million public stock offering, partly to pay for more ship orders.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 502.00 | 4.50 | 617.00 | 5.50 |
| Rotterdam | 457.50 | 2.50 | 623.50 | 6.50 |
| Houston | 469.00 | 3.50 | 623.00 | 2.00 |
| Fujairah | 494.50 | 6.50 | 715.50 | 5.50 |
| Global 20 Ports Average | 526.00 | 3.00 | 712.50 | 11.50 |
| Global 4 Ports Average | 481.00 | 4.00 | 645.00 | 4.50 |
| Global Average Bunker Price | 569.00 | 2.00 | 750.00 | 5.50 |
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