NYSE-listed Scorpio Tankers has tacked on two more newbuilding resale purchases to its already prodigious product carrier fleet.
The Emanuele Lauro-led company is paying USD37 million for an MR product tanker newbuilding being built at South Korea’s Hyundai Mipo Dockyard for delivery in September and USD58.5 million for an LR2 product tanker newbuilding under construction at Daehan Shipbuilding for delivery in August.
In the latter case, Scorpio will bareboat charter-in the vessel upon its completion for up to nine months at USD10,000/day, then take ownership thereafter. Both transactions are with unrelated third parties.
Over the past month and a half, Scorpio Tankers has taken delivery of three MR newbuildings and two LR2 newbuildings.
It now has a fleet in operation of 93 tankers, including 76 owned tankers (45 MRs, 16 LR2s, 15 Handymaxes) plus 17 chartered-in ships (five Handymaxes, four MRs, four LR1s, four LR2s).
Related news:Scorpio buys newbuilding resales
It has eight remaining newbuildings (seven LR2s, one MR) due for delivery between 3Q15 and 2016.
The continued growth for Scorpio Tankers stands in stark contrast to the group’s dry bulk venture, NYSE-listed Scorpio Bulkers, which has been rapidly retreating from its orderbook exposure.
Since December 2014 the company has sold 16 newbuilding contracts and converted six bulker contracts to product tanker newbuildings that are classified as ‘held for sale’. Scorpio Bulkers has 57 remaining bulkers on order, six of which are held for sale.
This post was sourced from IHS Maritime 360: View the original article here.