Scorpio Tankers Exercises Options to Construct Two VLGCs in South Korea

Scorpio Tankers Inc. announced on Friday that it has exercised options to construct two Very Large Gas Carriers (VLGC) in South Korea. The Company also took delivery of the twelfth vessel under its newbuilding program, STI Ville.

 VLGC Newbuildings

The Company has exercised options it held with Hyundai Samho Heavy Industries for the construction of two VLGC for approximately $75.0 million each. These vessels are 84,000 cubic meter tankers designed for the carriage of LPG and are scheduled to be delivered in the first quarter of 2016.

 Delivery of STI Ville

The Company took delivery of the twelfth MR product tanker under its newbuilding program at Hyundai Mipo Dockyard Co., Ltd. of South Korea, STI Ville. Upon delivery, the vessel began a time charter for up to 120 days at approximately $19,000 per day.

Scorpio Tankers, October 14, 2013

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