Scorpio renegotiates newbuild prices and credit facility

Scorpio renegotiates newbuild prices and credit facility

Monaco-headquartered Scorpio has negotiated the pricing of two newbuild vessels as well as a BNP Paribas credit facility.

Scorpio Bulkers has reached an agreement with Chinese shipbuilder Hudong Zhonghua to reduce the price of two kamsarmax vessels under construction by a total of $4.9m. The vessels are set to be delivered in the first half of 2017.

Meanwhile, Scorpio Tankers has managed to secure an increased and extended credit facility with BNP Paribas. Scorpio has been given an additional $27.6m under the facility, and had it extended through to December 2021. The funds will be used to fund the debt on two 2013-built MR product tankers.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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