• 2013 May 31 13:45

  Scorpio ends newbuild order spree with 16 more product tankers

  

  Scorpio Tankers Inc. (Scorpio) today brought to an end its recent newbuild order spree by placing final orders at five shipyards for a total of 16 more fuel efficient vessels, Ship & Bunker reports.

  The announcement means the company has placed newbuilding orders every month for the last 6 months, and now has a total of 54 new vessels on order.

  "We are observing attenuated capacity at quality shipyards, meaning that prices have moved up 8-12% and expected deliveries for new orders are moving beyond 2015. Under these circumstances, we have no plans for further newbuilding contracts," said Scorpio chief executive officer and chairman of the board Emanuele Lauro.

   The orders consist of eight LR2, four MR, and four Handymax ice class-1A product tankers, and as with the company's previous orders, were all placed at shipyards in South Korea.

  Read in full: http://shipandbunker.com/news/world/930165-scorpio-ends-6-month-newbuilding-order-spree-with-16-more-vessels

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