Scorpio Tankers Inc. Announces Newbuilding Contracts and

Scorpio Tankers Inc. Announces Newbuilding Contracts and Delivery of
Time Chartered-In Vessels 
MONACO -- (Marketwire) -- 01/22/13 --  Scorpio Tankers Inc. (NYSE:
STNG) (the "Company") announced today that it has reached an
agreement with Hyundai Mipo Dockyard Ltd. of South Korea for the
construction of two 50,000 deadweight ton product tankers to be
delivered in May and June 2014. In addition, the Company has taken
delivery of four previously announced time chartered-in vessels.  
Newbuilding vessel orders 
The Company recently reached an agreement with Hyundai Mipo Dockyard
Co. Ltd. of South Korea ("HMD") for the construction of two MR
product tankers for approximately $32.5 million each. These vessels
will be delivered in May and June 2014 and are a continuation of the
Company's existing newbuilding program for fuel-efficient vessels. In
conjunction with these contracts, the Company received fixed price
options with HMD to construct up to four 37,000 deadweight ton
'Handysize' fuel-efficient product tankers to be delivered within
The Company currently has a total of 13 MR product tanker newbuilding
orders with HMD and SPP Shipbuilding Co., Ltd. of South Korea. Three
are expected to be delivered to the Company by April 2013 and the
remaining 10 by September 2014. The Company also has fixed-price
options to construct a total of 12 additional newbuilding product
tankers at these yards.  
Delivery of time chartered-in vessels 
The Company recently took delivery of four previously announced time
chartered-in vessels, two LR2's, and two MR's.  
Emanuele Lauro, chief executive officer and chairman of the board
commented, "Our markets have witnessed significant tightening since
the middle of November, beyond what seasonal expectations alone would
typically augur. As we look back at 2012, the fundamental changes in
trade volumes and flows that we predicted were slow to materialize,
but the manifestation of these fourth quarter improvements are
becoming evident so far in the current quarter. Between the increases
in exports of refined products from the United States, demand from
developing markets, and trading activity across volatile commodity
markets, we are confident in our newbuilding program and our
charter-in strategy." 
About Scorpio Tankers Inc. 
corpio Tankers Inc. is a provider of
marine transportation of petroleum products worldwide. Scorpio
Tankers Inc. currently owns one LR2 tanker, four LR1 tankers, one
Handymax tanker, five MR tankers, and one post-Panamax tanker with an
average age of 4.8 years, time charters-in 20 vessels (three LR2,
three LR1, nine MR and five Handymax tankers), and has contracted for
13 newbuilding MR's (three are expected to be delivered to the
Company by April 2013 and the remaining 10 by the end of September
2014). Additional information about the Company is available at the
Company's website, which is not a part of this
press release. 
Forward-Looking Statements 
Matters discussed in this press release may constitute
forward-looking statements. The Private Securities Litigation Reform
Act of 1995 provides safe harbor protections for forward-looking
statements in order to encourage companies to provide prospective
information about their business. Forward-looking statements include
statements concerning plans, objectives, goals, strategies, future
events or performance, and underlying assumptions and other
statements, which are other than statements of historical facts. The
Company desires to take advantage of the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995 and is including
this cautionary statement in connection with this safe harbor
legislation. The words "believe," "anticipate," "intends,"
"estimate," "forecast," "project," "plan," "potential," "may,"
"should," "expect," "pending" and similar expressions identify
forward-looking statements. 
The forward-looking statements in this press release are based upon
various assumptions, many of which are based, in turn, upon further
assumptions, including without limitation, our management's
examination of historical operating trends, data contained in our
records and other data available from third parties. Although we
believe that these assumptions were reasonable when made, because
these assumptions are inherently subject to significant uncertainties
and contingencies which are difficult or impossible to predict and
are beyond our control, we cannot assure you that we will achieve or
accomplish these expectations, beliefs or projections. 
In addition to these important factors, other important factors that,
in our view, could cause actual results to differ materially from
those discussed in the forward-looking statements include the failure
of counterparties to fully perform their contracts with us, the
strength of world economies and currencies, general market
conditions, including fluctuations in charter rates and vessel
values, changes in demand for tanker vessel capacity, changes in our
operating expenses, including bunker prices, drydocking and insurance
costs, the market for our vessels, availability of financing and
refinancing, charter counterparty performance, ability to obtain
financing and comply with covenants in such financing arrangements,
changes in governmental rules and regulations or actions taken by
regulatory authorities, potential liability from pending or future
litigation, general domestic and international political conditions,
potential disruption of shipping routes due to accidents or political
events, vessels breakdowns and instances of off-hires and other
factors. Please see our filings with the Securities and Exchange
Commission for a more complete discussion of these and other risks
and uncertainties. 
Scorpio Tankers Inc. 
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