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Scorpio Tankers exercises newbuild options

Written by Nick Blenkey

scorpioOCTOBER 11, 2013 — Scorpio Tankers Inc. (NYSE: STNG) (the “Company”) announced today that it has exercised options to construct two Very Large Gas Carriers in South Korea. The company also took delivery of the twelfth vessel under its newbuilding program, STI Ville.

Scorpio has exercised options it held with shipbuilder Hyundai Samho Heavy Industries for the construction of two VLGCs for approximately $75.0 million each. The 84,000 cu.m tankers are designed for the carriage of LPG and are scheduled to be delivered in the first quarter of 2016.

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.

On delivery, the vessel began a time charter for up to 120 days at approximately $19,000 per day.

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