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Scorpio picks-up product tanker newbuild resale for $37.1m

Scorpio picks-up product tanker newbuild resale for $37.1m
Scorpio Tankers has purchased a newbuild product tanker being built at SPP Shipbuilding in South Korea, due for delivery next month, for $37.1m.

Scorpio did not reveal who it was buying the newbuilding resale from, beyond it was an "unrelated third party".

On delivery of the SPP newbuild in September, the vessel will join Scorpio’s existing fleet of 33 tankers, which saw further additions this month with the delivery of two MR product tankers, STI Dama from SPP and STI Olivia from Hyundai Mipo Dockyard in Korea. Both tankers have been deployed on $18,000 per day time charters of up to 120 days.

As well as the SPP newbuild, Scorpio Tankers has 27 further vessels scheduled for delivery this year, with a further 14 deliveries expected in 2015.

Scorpio’s existing tanker fleet totals one LR2 tanker, two LR1 tankers, four handymax tankers, 25 MR tankers, and one post-panamax tanker, averaging two years of age. On top of this, the company time charters-in 26 product tankers: eight LR2, six LR1, four MR and eight handymaxes.

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