Scorpio Tankers Inc. (NYSE: STNG) (the "Company") announced agreements to time charter-in three ice class 1A Handymax product tankers.
The Company has entered into time charter-in agreements with an unrelated third party on three ice class 1A Handymax product tankers. Each agreement is for three years at $15,600 per day, and the Company has two consecutive one year options to extend the agreements at $16,500 per day and $17,500 per day, respectively. The time charters are expected to commence before the end of March 2016. In addition, the Company has the option to time charter-in up to four additional ice class 1A Handymax product tankers under the same terms.