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April 15, 2014
08:10 EDTSTNGScorpio Tankers announces update on fleet transactions
Scorpio Tankers announced an update of its fleet. Recently, the company recorded a gain of $51M from the previously announced sale agreement of the seven VLCC newbuilding contracts, took delivery of STI Texas City, finalized the previously announced sale agreements of Noemi and Senatore and reported that the previously announced sale agreement of STI Spirit, which is expected to be finalized before the end of April. In March, the company received the proceeds from the sale of the seven VLCC newbuilding contracts and recorded a gain of $51M in Q1. At the end of March, the company took delivery of STI Texas City, an MR product tanker newbuilding from SPP Shipbuilding Co., Ltd. of South Korea, which began a two-year time charter at a current market level plus a profit sharing component upon delivery. The loss related to the sales of Noemi and Senatore, 2004 built LR1 product tankers, was recorded in 4Q13. The loss related to the sale for STI Spirit, 2008 built LR2 product tanker, was also recorded in 4Q13.
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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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