Scorpio Tankers Inc. STNG (the "Company") announced today that it has reached agreements
with five shipyards in Korea to construct 16 newbuilding vessels
consisting of eight LR2, four MR, and four Handymax ice class-1A
product tankers. In addition, the Company announced that syndication
of the Company's previously announced $267 million Credit Facility
has been heavily over-subscribed resulting in an increase of the
overall commitments received from new and existing financial
institutions to $525 million.
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