China’s financial leasing institutions are stepping up their game in shipping becoming more flexible and competitive in their deal terms compared to traditional bank lendings, according to Western shipowners.

Scorpio Tankers have netted a new $300m loan facility to be used for refinancing.

Scorpio Tankers more than quadrupled net profits in 2015 on the back of a strong tanker market and an enlarged fleet of vessels.

The National Shipping Company of Saudi Arabia (Bahri) is buying five MR tankers from Scorpio Tankers.

In spite of soaring Q3 profits, Scorpio Tankers has chosen not to exercise options on four MR product tankers, and has received a commitment for a new loan facility.

Scorpio Tankers has renegotiated its credit facility, as well as selling a Handymax, to finance two Long-Range 2 (LR2) product tankers.

So which would you rather have – four round trips to the moon – or own Scorpio Tankers?

Scorpio Tankers converted a newbuilding order at Hyundai Mipo Dockyard to four MR product tankers plus options.

Scorpio Tankers has purchased 1,716,155 of its shares on the open market so far in August, at an average price of $10.48 per share.

Scorpio Tankers has reported a $57.5m profit for the second quarter, and four new product tanker orders at Hyundai Mipo Dockyard (HMD).