World News
Another Four Newbuilds for Scorpio Tankers
New York listed Scorpio Tankers Inc. (Scorpio) [NYSE:STNG] today announced it has exercised options with South Korea's Hyundai Mipo Dockyard Co., Ltd. (HMD) for the construction of four Handymax ice class-1A product tankers as a continuation of its existing newbuilding program for fuel-efficient vessels.
The 37,000 deadweight tonne (dwt) vessels will cost approximately $30 million each, and are due for delivery in the third quarter of 2014.
The newbuildings come with fixed price options for the construction of four additional Handymax vessels.
The announcement comes less than a week after the firm said it was adding four fuel-efficient MR product tankers to its existing vessel orders at a cost of $32.5 million each.
Scorpio now has a total of 20 newbuilding product tanker orders with HMD and SPP Shipbuilding Co., Ltd., also of South Korea, with fixed-price options to construct a total of 14 additional newbuilding product tankers at the yards.
Two of the newbuildings are expected to be delivered to the company by April 2013 and the remaining 18 by the end of 2014.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| New York | 495.50 | 1.50 | 675.50 | 5.50 |
| Singapore | 509.00 | 4.50 | 623.00 | 3.00 |
| Rotterdam | 463.00 | 7.00 | 623.50 | 2.00 |
| Houston | 471.50 | 4.50 | 627.50 | 3.50 |
| Fujairah | 501.00 | 4.50 | 714.00 | 1.00 |
| Global 20 Ports Average | 529.00 | 2.50 | 714.50 | 2.50 |
| Global 4 Ports Average | 486.00 | 3.00 | 647.00 | 2.50 |
| Global Average Bunker Price | 572.50 | 2.00 | 753.00 | 2.00 |
Popular Now More
-
Apr 28Failing to keep track of energy density variations could be costing shipping companies as much as $25/mt in fuel bills, Shipergy CEO Daniel Rose tells Ship & Bunker. -
Apr 28Gross profit from the marine segment was $35.7 million in Q1 2025, down from $48.4 million a year earlier. -
Apr 28The product is being produced at the company's 100,000 b/d Fujairah refinery, and the firm's ship the Elandra Falcon was the first to take on the new fuel at Fujairah.