Scorpio to Install Scrubbers on 146 Vessels Across Tanker and Bulker Fleets

Monaco-based shipping group Scorpio is going all-in on exhaust gas scrubbers in to order to comply with the IMO's 2020 sulphur cap. Both Scorpio Tankers and Scorpio Bulkers on Monday announced plans to install scrubbers on a combined 146 vessels, including all 56 bulk vessels in Scorpio Bulkers' fleet and 75 additional tankers Scorpio Tankers' fleet. Scorpio Tankers already … [Read more...]

Scorpio Bulkers Swaps Capesize Newbuilds for Product Tankers

13 months after placing an order for twenty Capesize bulk carriers, Scorpio Bulkers is modifying their order and instead swapping out three of their Capes for three LR1 product tankers. Considering the huge hit the Baltic Dry Index has taken over the past year, and the amount of existing tonnage in the market, this move is not surprising. Scorpio says two of these new … [Read more...]

Tax-Free MLPs Sweeping the Shipping Industry

By Isaac Arnsdorf Sept. 11 (Bloomberg) -- Master limited partnerships, tax- exempt companies that pay investors most of their income at the cost of added risk, are spreading in the shipping industry. Scorpio Tankers Inc., the largest owner of vessels hauling refined fuels, is “seriously” considering starting an MLP, President Robert Bugbee said in an Aug. 26 phone … [Read more...]

Scorpio’s Giant Boxships ‘To Earn $50,000 Daily’

By Michelle Wiese Bockmann Scorpio Group has probably lined up a bareboat rate of about $50,000 daily for the long-term charter of about 15 years’ duration of three, 19,200 TEU box ships that market reports suggest the shipowner has just ordered, according to Arctic Securities. The Oslo-based investment bank said the charter rate hasn’t been disclosed and its estimates … [Read more...]

Scorpio Banks $50 Million Off Newbuild VLCC Resale

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...]