Scorpio Acquires 3 Tankers

Scorpio Tankers Inc. announced today that it has recently taken delivery of three newbuilding vessels.

The Company recently took delivery of the following vessels:

  * STI Pontiac, an MR product tanker, was delivered from Hyundai Mipo Dockyard of South Korea in March 2015. Upon delivery, this vessel began a time charter for up to 120 days at approximately $18,200 per day.
  * STI Manhattan, an MR product tanker, was delivered from SPP Shipbuilding of South Korea in March 2015. Upon delivery, this vessel began a time charter for up to 120 days at approximately $19,600 per day.
  * STI Winnie, an LR2 product tanker, was delivered from Daewoo Shipbuilding and Marine Engineering in March 2015. Upon delivery, this vessel began a voyage for 55 days at approximately $33,500 per day.

  Scorpio Tankers Inc. currently owns 67 tankers (11 LR2 tankers, two LR1 tankers, 15 Handymax tankers, and 39 MR tankers) with an average age of 1.1 years, time charters-in 20 product tankers (five LR2, five LR1, three MR and seven Handymax tankers), and has contracted for 13 newbuilding product tankers (six MR and seven LR2), nine of which are expected to be delivered in the second quarter of 2015 and the remaining four vessels throughout 2016. The Company has also reached agreements to sell two of its older LR1 vessels. The Company also owns approximately 16% of Dorian LPG Ltd.