A natural step one-year on from its New York IPO
Scorpio Tankers has laid the groundwork for further fleet expansion in a $650m double move.
New York-listed Scorpio has grabbed a $150m loan from a Nordea-led consortium and filed a shelf registration potentially worth $500m.
Scorpio says some of the loan cash has already been earmarked to fund the arrival of two former Korea Line tankers auctioned off by Nordea.
As TradeWinds has reported, Scorpio paid $70m to take the 51,000-dwt Blue Coral and Blue Diamond (both built 2008).
Emanuele Lauro, CEO of the shipowner, says the filing of the shelf registration is a natural step one-year on from its New York IPO.
Scorpio went public with a fleet of just three vessels. The figure now stands at 17.
In addition to the new funding, Scorpio has $141.1m undrawn on another loan with Nordea.
Source: Tradewinds
