Scorpio Tankers (STNG) Updates on Recent Deliveries, Charters

Scorpio Tankers (NYSE: STNG) has recently taken delivery of four newbuilding vessels and agreed to time charter-in an LR2 product tanker that is currently under construction in South Korea.

Newbuilding Vessel Deliveries

The Company recently took delivery of the following vessels:

STI Orchard, an LR2 product tanker, was delivered from Daewoo Shipbuilding and Marine Engineering in September 2014. This vessel will begin a voyage for 45 days at approximately $30,000 per day.
STI St. Charles, an MR product tanker, was delivered from SPP Shipbuilding of South Korea in September 2014. This vessel will begin a time charter for up to 120 days at approximately $17,000 per day.
STI Fulham and STI Camden, Handymax Ice Class 1A product tankers, were delivered from Hyundai Mipo Dockyard of South Korea in September 2014. Each vessel will begin a time charter for up to 120 days at approximately $14,750 per day.

Time chartered-in LR2

The Company has agreed to charter-in an LR2 product tanker that is currently under construction in South Korea with delivery expected in January 2015. Upon delivery from the shipyard, the vessel will be chartered-in for one year at $21,050 per day. The Company also has an option to extend the charter for one year at $22,600 per day.

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