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Stock Market & Financial Investment News

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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.
News For STNG From The Last 14 Days
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August 18, 2014
09:09 EDTSTNGScorpio Tankers to purchase MR product tanker for $37.1M
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August 14, 2014
10:05 EDTSTNGOn The Fly: Analyst Upgrade Summary
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06:43 EDTSTNGScorpio Tankers upgraded to Outperform from Neutral at Credit Suisse
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