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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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September 16, 2014
07:49 EDTSTNGScorpio Tankers announces newbuilding vessel deliveries
Scorpio Tankers announced that it has recently taken delivery of seven newbuilding vessels. The deliveries are as follows: STI Madison and STI Park, LR2 product tankers, were delivered from Hyundai Samho Heavy Industries in September 2014. Upon delivery, each vessel began a voyage for 45 days at approximately $30,000 per day. STI Mythos, an MR product tanker, was delivered in August from Hyundai Mipo Dockyard of South Korea. Upon delivery, this vessel began a time charter for up to 120 days at approximately $17,000 per day. STI Regina, an MR product tanker, was delivered in September from SPP Shipbuilding of South Korea. Upon delivery, this vessel began a time charter for up to 120 days at approximately $17,000 per day. STI Benicia, an MR product tanker, was delivered in September from SPP. After delivery, this vessel began a one year time charter at a rate level consistent with current one year time charter contracts which includes a profit sharing mechanism whereby earnings in excess of the base time charter rate are split between the Company and charterer. STI Hackney and STI Acton, Handymax Ice Class 1A product tankers, were delivered from HMD in August and September, respectively. Upon delivery, each vessel began a time charter for up to 120 days at a rate level consistent with the current market.

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