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Scorpio Tankers Inc.
(the "Company") announced today that it has exercised options
with Hyundai Mipo Dockyard Co., Ltd. of South Korea ("HMD") for the
construction of four MR Product tankers for approximately $33.0
million each and two Handymax ice class-1A (37,000 DWT) product
tankers for approximately $31.25 million each. The MR Product tankers
were previously reserved for another owner, and two of these vessels
will deliver in the second quarter of 2014 with the third and fourth
vessels to be delivered in the third and fourth quarter of 2014,
respectively. The two Handymax vessels will be delivered early in the
third quarter of 2014.
These are a continuation of the Company's existing newbuilding
program for fuel-efficient vessels. These newbuildings come with
fixed-price options for the construction of four additional Handymax
vessels as well as an extension on previously obtained fixed-price options.
The Company has a total of 26 newbuilding product tanker orders with
HMD and SPP Shipbuilding Co., Ltd. of South Korea which include 20 MR
and six Handymax ice class-1A vessels. Two of the newbuildings are
expected to be delivered to the Company by April 2013 and the
remaining 24 by the end of 2014. The Company also has fixed-price
options to construct a total of 12 additional newbuilding product
tankers at these yards.
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