World News
Two More Newbuilds for Scorpio Tankers
Scorpio Tankers Inc. [NYSE: SNG] (Scorpio) today said it was continuing its newbuilding program for fuel-efficient vessels with an order for two 114,000 dwt LR2 Product Tankers made with South Korea's Hyundai Samho Heavy Industries Co., Ltd.
At a cost of $49.75 million, Scorpio said it expected the vessels to be delivered in the third quarter of 2014.
The newbuildings come with fixed-price options for the construction of additional LR2 vessels, it said.
In October 2012 Scorpio said it was looking at fuel efficient newbuilds for growth as it aimed to become a major operator of medium-sized tanker vessels, and has subsequently made a series of newbuilding orders.
Today's announcement means the company has a total of 28 newbuilding product tanker orders with South Korean shipyards Hyundai Mipo Dockyard Co., Ltd., SPP Shipbuilding Co., Ltd., and Hyundai Samho Heavy Industries Co., Ltd., and it has fixed-price options to construct additional newbuilding product tankers at those yards.
Two of the newbuildings are expected to be delivered to the Company by April 2013, with the rest arriving by the end of 2014.
Last week the company said it reduced its losses for both the three months ended December 31, 2012, as well as the full 2012 calendar year.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| New York | 485.50 | 10.00 | 673.50 | 2.00 |
| Singapore | 502.00 | 7.00 | 617.00 | 6.00 |
| Rotterdam | 455.00 | 8.00 | 619.50 | 4.00 |
| Houston | 467.00 | 4.50 | 625.00 | 2.50 |
| Fujairah | 495.00 | 6.00 | 712.50 | 1.50 |
| Global 20 Ports Average | 524.50 | 4.50 | 710.50 | 4.00 |
| Global 4 Ports Average | 479.50 | 6.50 | 643.50 | 3.50 |
| Global Average Bunker Price | 570.50 | 2.00 | 747.50 | 5.50 |
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