Scorpio Tankers Secures Funding for Eight Newbuildings

Image Courtesy: Scorpio Tankers

NYSE-listed Scorpio Tankers has received commitments for a loan facility of up to USD 172 million from a group of financial institutions which will be used to finance up to 60% of the market value of eight MR product tankers under construction at Hyundai Mipo Dockyard in South Korea.

The eight newbuilding tankers are scheduled for delivery throughout 2017 and the first quarter of 2018.

The loan facility is composed of multiple tranches and the maturity date of each tranche is between six and twelve years from each drawdown date.

Scorpio Tankers currently owns 77 product tankers with an average age of 2.2 years and time charters-in 16 product tankers.

The company has contracted for 10 newbuilding product tankers, the eight MRs and two LR2 tankers.

The two LR2s are expected to be delivered in the first quarter of 2017.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Aug 2017 >>
MTWTFSS
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Shipping2030 Asia

This year Shipping2030 Asia will take place with Global Liner Shipping conference, offering attendees unique access to networking with the container shipping industry…

read more >

Indonesia Marine & Offshore Expo (IMOX) 2017

Indonesia Marine & Offshore Expo (IMOX) 2017, Batamis an international maritime and offshore industrial event that brings an international…

read more >

Salvage & Wreck Asia

Could your business be affected by shipwreck? Are you a salvage professional or a wreck removal expert? …

read more >

DSM17

Donsö Shipping Meet 2017 is an all inclusive exhibition. Meals, electricity, meeting schedule and banquette dinner is included…

read more >