Scorpio Tankers buys another MR product tanker

Athens: Continuing its march into the medium-range (MR) market, Scorpio Tankers has agreed to buy a secondhand MR product tanker for $37.1m.

The NYSE-listed company declined to name the seller of the 2014-built vessel, which was built at SPP Shipbuilding, South Korea. The ship is expected to be delivered to Scorpio in August.

The acquisition shines more light on Scorpio’s new mid-sized strategy. Scorpio Tankers last week ordered two MR product tankers to be built at South Korea’s Hyundai Mipo yard. The contract was priced at $34.5m per vessel and includes options for six more.

Last week, Splash reported that Scorpio has chartered in one aframax product tanker from Italy’s Navigazione Montanari and placed another under its commercial management.

The Monaco-based company has also just bought a 50,000-dwt MR newbuilding from York Maritime Holdings (part of York Capital) for $37m. The as-yet unnamed vessel is due for delivery later this year.

York Maritime sold the vessel’s two sisterships to Scorpio in October 2014, also for $37m per ship. The fund had attempted to sell all five of the tankers for $36.5m each, but in the end only sold two.

Scorpio Tankers has also recently purchased an LR2 product tanker currently under construction at Daehan Shipbuilding for $58.5m from an unnamed seller.



Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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