Scorpio Charters Out Ice Class Tanker Duo

Scorpio Tankers Monaco-based tanker owner Scorpio Tankers has chartered out two of its ice class 1A Handymax product tankers. Each vessel will be employed for three years at USD 18,000 per day, with each charter scheduled to commence by the end of January 2016. Additionally, the company said that following its announcement on November 4, 2015, Scorpio Tankers repurchased USD 250 million worth of common shares in the open market. The company now has USD 178.3 million remaining under its share repurchase program. Scorpio has currently contracted for 12 newbuilding product tankers, eight MR and four LR2 tankers. The four LR2s are expected to be delivered in 2016, and the eight MRs are expected to be delivered throughout 2017. As World Maritime News reported on November 30, Scorpio Tankers decided not to exercise its options to construct an additional four MR product tankers. With todays charter agreement, the company has 12 product tankers on charter, as well as one LR2 on a bareboat charter, which the company is scheduled to purchase in April 2016. The company currently owns 79 product tankers, out of which 18 are LR2, 14 are Handymaxes, and 47 MR tankers, with an average age of 1.2 years.