By MarEx 2015-07-30 10:53:53
Scorpio Tankers is expanding its fleet. The shipper has reached agreements with Hyundai Mipo Dockyard Co. Ltd. of South Korea (HMD) for four newbuilds. HMD will construct two MR product tankers and two Handymax product tankers for Scorpio. The pair of MR tankers cost about $34.5 million and the two Handymax tankers cost about $32.5 million. The vessels are to be delivered between the second and third quarters of 2017.
The contracts come with a fixed price and options for 12 additional ships of both sizes.
Scorpio’s orders follow Q2 results that exceeded analyst forecasts. The company took in a net income of $57.6 million, which raises its first half profit to $98.2 million. In the same period last year, the shipper suffered a loss of $11.2 million.
Scorpio has 12 vessels with payments totaling $596 million in its order book.
This post was sourced from Maritime Executive: View original article here.
