Scorpio Tankers Inc. announced today that it has recently taken delivery of seven newbuilding vessels, the company said in its press release.
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 2014 from Hyundai Mipo Dockyard of South Korea ("HMD"). 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 2014 from SPP Shipbuilding of South Korea ('SPP'). 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 2014 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 2014, respectively. Upon delivery, each vessel began a time charter for up to 120 days at a rate level consistent with the current market.
About Scorpio Tankers Inc.
Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. Scorpio Tankers Inc. currently owns 40 tankers (three LR2 tankers, two LR1 tankers, six Handymax tankers, 28 MR tankers, and one post-Panamax tanker) with an average age of 1.6 years, time charters-in 25 product tankers (seven LR2, six LR1, four MR and eight Handymax tankers), and has contracted for 35 newbuilding product tankers (17 MR, nine LR2, and nine Handymax ice class-1A product tankers), 21 are expected to be delivered to the Company throughout 2014 and 14 in 2015. The Company also owns approximately 16% of Dorian LPG Ltd.