Scorpio Tankers Inc. (NYSE: STNG) says it is set to make $50 million in cash on the resale of it's seven newbuild VLCC's still under construction. Scorpio ordered the VLCC's back in December 2013 from Daewoo Shipbuilding and Marine Engineering and Hyundai Samho Heavy Industries for an aggregate price of approximately $652.5 million, marking the company’s short-lived entry … [Read more...]
Scorpio Adds Seven VLCCs to Newbuild Orderbook
NYSE-listed Scorpio Tankers (NYSE: STNG) announced Tuesday that it has entered into agreements for the construction of seven VLCC newbuilds, marking the company's entry into the VLCC market, as well an additional agreement with an unaffiliated third party re-sale of four MR product tankers already under construction in South Korea. VLCC Newbuildings In a statement … [Read more...]