Scorpio Tankers Puts Deliveries to Work

zoom Monaco-based tanker specialist Scorpio Tankers has taken delivery of one LR2 and one MR product tanker newbuild. The STI Oxford is an LR2 product tanker delivered from Hyundai Samho Heavy Industries, which upon delivery began a voyage for 50 days at approximately USD 41,000 per day. The MR tanker STI Queens was delivered from South Koreas SPP Shipbuilding and began a time charter for up to 120 days at approximately USD 18,000 per day. Scorpio Tankers currently owns 67 tankers with an average age of 0.8 years, time charters-in 21 product tankers, and has contracted for 11 newbuilding product tankers (five MR and six LR2), seven of which are expected to be delivered in the second quarter of 2015 and the remaining four vessels throughout 2016. The company has also reached agreements to sell two of its older LR1 vessels. Scorpio Tankers plans to issue its first quarter 2015 earnings today.