New York-listed Scorpio Tankers reached an agreement with an unaffiliated third party to buy four MR tankers currently under construction at Hyundai Mipo Dockyard of South Korea for approximately $36.5m each or $146m in total.
The newbuildings are slated to be delivered between June to September this year. “The transaction will be completed by way of novation of the existing shipbuilding agreements and remains subject to final documentation,” Scorpio Tankers said.
The company has also exercised options with the Korean shipyard for two handymax ice-class 1A vessels worth around $31.5m each or $63m in total. The deal comes with fixed price options for additional vessels.
The ice-class vessels will be delivered to the owner in the third quarter of 2014.
Scorpio Tankers now has a total of 39 newbuilding product tanker agreements, which include 23 MRs, eight LR2, and eight handymax ice-class 1A vessels, at Hyundai Mipo Dockyard, SPP Shipbuilding, Hyundai Samho Heavy Industries, and Daewoo Shipping and Marine Engineering (DSME).
Meanwhile, Scorpio Tankers updated its time charter-in agreements for three vessels. A 2003-built, 37,000 dwt handymax product tanker, due for delivery in mid-May, will require a rate of $12,600 a day over 24 months.
The company also fixed a 2006-built, 106,000 dwt LR2 product tanker for 24 months at $15,400 a day, and a 2009-built, 115,000 dwt LR2 product tanker for 12 months at $16,250 a day. Delivery of the tankers are expected near the end of July and the end of the second quarter, respectively.
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