Scorpio Tankers has upsized its vessel order with South Korea’s Hyundai Mipo shipyard to four MR product tankers with 10 options, superceding both of the two-option-six orders for MR tankers and handymax tankers agreed in July.
The vessels will cost Scorpio $34.5m each, the same price tag as previously.
The four firm vessels are scheduled for delivery in the first and second quarter of 2017, the company said.
Meanwhile, the NYSE-listed company has spent $17.6m in repurchasing another 1,850,000 of its common shares in the open market, at an average price of $9.49 per share.
Since the company announced the buy-back scheme in May, Scorpio Tankers has repurchased 3,836,504 of its shares, costing around $35.6m in total. These will be held as treasury shares, the company said.
Scorpio Tankers still has around $210m left to spend on the scheme.