Scorpio Tankers announces newbuilding agreement for seven VLCCs Scorpio Tankers announced that it has entered into agreements for the construction of seven Very Large Crude Carriers, or VLCCs, and entered into an agreement with an unaffiliated third party to issue shares in exchange for the transfer of ownership to the company of four MR product tankers currently under construction in South Korea. The company has reached agreements with Daewoo Shipbuilding and Marine Engineering and Hyundai Samho Heavy Industries for the construction of seven VLCCs for an aggregate price of approximately $652.5M. One vessel is scheduled for delivery in the third quarter of 2015, two in the fourth quarter of 2015, two in 1Q16 and two in 4Q16.
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