Scorpio Tankers pounces on Newbuildings

Tanker owner Scorpio Tankers has reached an agreement to purchase two LR2 product tankers currently under construction at Daewoo Shipbuilding and Marine Engineering Co., Ltd. (DSME) for
approximately USD 60 million each. These vessels are expected to be delivered in January 2015. Scorpio has not revealed the name of the seller. The company has also taken delivery of two LR2 and one MR product tanker earlier this November.

STI Sloane LR2 tanker was delivered from Hyundai Samho Heavy Industries, and upon delivery the vessel began a voyage for 45 days at approximately USD 30,000 per day. STI Broadway LR2 tanker was delivered from DSME and began a 45-day voyage at approximately USD 30,000 per day.

STI Milwaukee, an MR product tanker, was delivered from Hyundai Mipo Dockyard of South Korea and immediately began a time charter for up to 120 days at approximately USD 18,000 per day.