Five tankers ordered from Hyundai

08 Jun 2011

Scorpio Tankers has announced that it has signed contracts with Hyundai Mipo Dockyard of South Korea to construct five 52,000dwt product tankers at a price of about $37.4 million each.

The company says that the vessels will be the first to be delivered from the Hyundai Group with new propulsion technology including the 'B' type ultra-long stroke electronically controlled main engine. These enhancements are expected to reduce fuel consumption by about 10% compared to existing designs. The ships are scheduled to be delivered between August 2012 and November 2012.

Scorpio Tankers is incorporated in the Marshall Islands, with principal offices in Monaco and New York. Emanuele Lauro, CEO and chairman of the board commented, "These newbuilding contracts represent a milestone for Scorpio Tankers. We are delighted by the cooperation of Hyundai Mipo Dockyard to achieve a design that includes the latest technology available to reduce air emissions, improve fuel consumption, and raise the safety and commercial profile of the vessels."

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