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scorpio tankers inc (STNG) Snapshot

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scorpio tankers inc (STNG) Details

Scorpio Tankers Inc., together with its subsidiaries, engages in the seaborne transportation of refined petroleum products and crude oil worldwide. As of March 31, 2015, it owned 67 tankers comprising 11 LR2 tanker, 2 LR1 tankers, 15 Handymax tankers, 39 MR tankers with an average age of 1.1 years; and time charters-in 20 product tankers, including 5 LR2, 5 LR1, 3 MR, and 7 Handymax tankers. The company was founded in 2009 and is based in Monaco, Monaco.

14 Employees
Last Reported Date: 03/31/15
Founded in 2009

scorpio tankers inc (STNG) Top Compensated Officers

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Executives, Board Directors

scorpio tankers inc (STNG) Key Developments

Scorpio Tankers Receives Delivery of Three New Building Vessels

Scorpio Tankers Inc. has received delivery of three new building 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. Receives $113.2 Million Commitments from Two Leading European Financial Institutions for Two Separate Loan Facilities

Scorpio Tankers Inc. announced that it has received commitments from two leading European financial institutions for two separate loan facilities of up to $113.2 million in aggregate to partially finance the purchase of four LR2 product tankers that was announced in December 2014. $52.0 million loan facility will be used to finance a portion of the purchase price of two LR2 product tankers currently under construction at Daehan Shipbuilding Co. Ltd. with expected deliveries in first quarter of 2016 and second quarter of 2016 respectively. The loan facility has a final maturity of seven years from the date of signing and bears interest at LIBOR plus a margin of 1.95% per annum. The loan facility is subject to customary conditions precedent and the execution of definitive documentation. $61.2 million loan facility will be used to finance a portion of the purchase price of two LR2 product tankers currently under construction at Sungdong Shipbuilding &Marine Engineering Co. Ltd. with expected deliveries in second quarter of 2016 and third quarter of 2016 respectively. The loan facility has a final maturity of five years from the date of delivery of each vessel and bears interest at LIBOR plus a margin ranging between 1.95% and 2.40% per annum (depending on the advance ratio). The loan facility is subject to customary conditions precedent and the execution of definitive documentation.

Scorpio Tankers Inc. Declares Quarterly Cash Dividend, Payable on March 30, 2015

On February 26, 2015, the board of directors of Scorpio Tankers Inc. declared a quarterly cash dividend of $0.12 per share, payable on March 30, 2015 to all shareholders as of March 13, 2015 (the record date). As of February 26, 2015, there were 163,827,903 shares outstanding.

 

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STNG:US $9.52 USD -0.16

STNG Competitors

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Company Last Change
Capital Product Partners LP $9.65 USD +0.01
Nordic American Tankers Ltd $12.99 USD +0.13
Ship Finance International Ltd $15.47 USD -0.22
TAL International Group Inc $41.81 USD -0.90
Teekay Tankers Ltd $6.33 USD +0.15
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Industry Analysis

STNG

Industry Average

Valuation STNG Industry Range
Price/Earnings 32.8x
Price/Sales 4.3x
Price/Book 1.3x
Price/Cash Flow 16.7x
TEV/Sales NM Not Meaningful
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