Scorpio Tankers Inc. Announces Four Newbuilding Contracts

Scorpio Tankers Inc. Announces Four Newbuilding Contracts 
MONACO -- (Marketwire) -- 02/01/13 --  Scorpio Tankers Inc. (NYSE:
STNG) (the "Company") announced today that it has reached an
agreement with SPP Shipbuilding Co., Ltd. of South Korea ("SPP") for
the construction of four MR product tankers for approximately $32.5
million each, two of which are the exercise of options from a
previous contract. These vessels will be delivered in the third and
fourth quarters of 2014 and are a continuation of the Company's
existing newbuilding program for fuel-efficient vessels. In
conjunction with these contracts, the Company received extensions on
several previously agreed options and received four new fixed price
options for similar vessels which would be delivered in 2015. 
The Company currently has a total of 16 MR product tanker newbuilding
orders with Hyundai Mipo Dockyard Co. Lt. of South Korea and SPP. Two
are expected to be delivered to the Company by April 2013 and the
remaining 14 within 2014. The Company also has fixed-price options to
construct a total of 14 additional newbuilding product tankers at
these yards. 
About Scorpio Tankers Inc. 
 Scorpio 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, six MR tankers, and one post-Panamax tanker with an
average age of 4.6 years, time charters-in 20 vessels (three LR2,
three LR1, nine MR and five Handymax tankers), and has contracted for
16 newbuilding MRs (two are expected to be delivered to the Company
by April 2013 and the remaining 14 by the end of 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. 
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