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February 1, 2013
09:29 EDTSTNGScorpio Tankers announces four newbuilding contracts at $32.5M per tanker ship
Scorpio Tankers announced that it has reached an agreement with SPP Shipbuilding South Korea for the construction of four MR product tankers for approximately $32.5M each, two of which are the exercise of options from a previous contract. These vessels will be delivered in 3Q14 and 4Q14 and are a continuation of the company's existing newbuilding program for fuel-efficient vessels. In conjunction with these contracts, the company received extensions on several previously agreed options and received four new fixed price options for similar vessels which would be delivered in 2015. The company currently has a total of 16 MR product tanker newbuilding orders with Hyundai Mipo Dockyard of South Korea and SPP. Two are expected to be delivered to the company by April 2013 and the remaining 14 within 2014. The company also has fixed-price options to construct a total of 14 additional newbuilding product tankers at these yards.
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August 24, 2015
05:21 EDTSTNGScorpio Tankers reports update on newbuilding program, delivery of tanker
Scorpio Tankers has amended its agreement with Hyundai Mipo Dockyard Co. Ltd. of South Korea, or HMD, to construct MR and Handymax product tankers. The company has contracted for four MR product tankers to be built at HMD for approximately $34.5M and has options to construct up to 10 more MR product tankers with fixed delivery dates and at fixed prices. The four vessels are scheduled for delivery in Q1 and Q2 of 2017. Previously, the company had ordered two MR product tankers for approximately $34.5M and two Handymax product tankers for $32.5M and had options to construct up to six more MR product tankers and six more Handymax product tankers with delivery. The company recently took delivery of an MR product tanker that was built in 2014 at SPP Shipbuilding Co., Ltd. of South Korea, STI Memphis. Upon delivery, this vessel began operating in the Scorpio MR Pool.

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