The Company reached an agreement with an unrelated third party to purchase an MR product tanker that was built in 2014 at SPP Shipbuilding Co., Ltd. of South Korea for approximately $37.1 million. The vessel is expected to be delivered in August 2015.
Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. Scorpio Tankers Inc. currently owns 76 tankers (16 LR2 tankers, 15 Handymax tankers, and 45 MR tankers) with an average age of 1.0 years and time charters-in 17 product tankers (four LR2, four LR1, four MR and five Handymax tankers).
The Company has reached an agreement to acquire an MR product tanker in August 2015 and has contracted for eight newbuilding product tankers (one MR and seven LR2), four of which are expected to be delivered in the third quarter of 2015 and the remaining four vessels throughout 2016.