0001483934-15-000017.txt : 20150824 0001483934-15-000017.hdr.sgml : 20150824 20150824142740 ACCESSION NUMBER: 0001483934-15-000017 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20150824 FILED AS OF DATE: 20150824 DATE AS OF CHANGE: 20150824 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Scorpio Tankers Inc. CENTRAL INDEX KEY: 0001483934 STANDARD INDUSTRIAL CLASSIFICATION: DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412] IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-34677 FILM NUMBER: 151070758 BUSINESS ADDRESS: STREET 1: 9, BOULEVARD CHARLES III CITY: MONACO STATE: O9 ZIP: 98000 BUSINESS PHONE: 212-542-1616 MAIL ADDRESS: STREET 1: 9, BOULEVARD CHARLES III CITY: MONACO STATE: O9 ZIP: 98000 6-K 1 scorpiotankersinc6-kx082415.htm SCORPIO TANKERS INC. 6-K 6-K




 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of August 2015

Commission File Number: 001-34677

SCORPIO TANKERS INC.
(Translation of registrant’s name into English)

9, Boulevard Charles III, Monaco 98000
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F þ Form 40-F ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b) (1): ¨

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.




















INFORMATION CONTAINED IN THIS FORM 6-K REPORT

Attached to this Report on Form 6-K as Exhibit 99.1 is a press release issued by Scorpio Tankers Inc. (the "Company") on August 24, 2015 announcing an update on securities repurchase program, third quarter revenues, newbuilding program and fleet.

The information contained in this Report on Form 6-K is hereby incorporated by reference into the Company's registration statement on Form F-3 (File no. 333-186815) that was filed with the U.S. Securities and Exchange Commission effective February 25, 2013.








SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 
 
 
 
 
 
 
 
 
 
 
SCORPIO TANKERS INC.
 
 
 
 
(registrant)
Dated: August 24, 2015
 
 
 
 
 
 
 
 
 
 
By:
 
/s/ Brian Lee
 
 
 
 
 
 
Brian Lee
 
 
 
 
 
 
Chief Financial Officer






EX-99.1 2 exhibit991-082415.htm EXHIBIT 99.1 Exhibit



Exhibit 99.1

Scorpio Tankers Inc. Announces Updates on its Securities Repurchase Program, Third Quarter Revenues, Newbuilding Program, and Fleet

MONACO--(Marketwired - August 24, 2015) - Scorpio Tankers Inc. (NYSE: STNG) (the "Company") announced today updates on its Securities Repurchase Program, third quarter revenues, Newbuilding Program, and Fleet.

$250 Million Securities Repurchase Program
Since the Company’s previous announcement on August 12, 2015, the Company has purchased 1,850,000 of its common shares in the open market at an average price of $9.49 per share.
The Company has $210.0 million remaining under its securities buyback program as of the date of this press release. The acquired common shares are being held as treasury shares. The Company expects to repurchase any securities in the open market, at times and prices that are considered to be appropriate by the Company, but is not obligated under the terms of the program to repurchase any securities.
Third Quarter Revenues
About 66% of the Company’s third quarter of 2015 voyage days have been contracted at approximately:

$38,500 for LR2s
$28,500 for LR1s
$26,500 for MRs
$21,500 for Handymaxes

Newbuilding Program
The Company has amended its agreement with Hyundai Mipo Dockyard Co. Ltd. of South Korea (“HMD”) to construct MR and Handymax product tankers. The Company has contracted for four MR product tankers to be built at HMD for approximately $34.5 million and has options to construct up to 10 more MR product tankers with fixed delivery dates and at fixed prices. The four vessels are scheduled for delivery in the first and second quarter of 2017.
Previously, the Company had ordered two MR product tankers for approximately $34.5 million and two Handymax product tankers for $32.5 million and had options to construct up to six more MR product tankers and six more Handymax product tankers with delivery.
Fleet
The Company recently took delivery of an MR product tanker that was built in 2014 at SPP Shipbuilding Co., Ltd. of South Korea, STI Memphis. Upon delivery, this vessel began operating in the Scorpio MR Pool.

About Scorpio Tankers Inc.
Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. Scorpio Tankers Inc. currently owns 78 tankers (17 LR2 tankers, 15 Handymax tankers, and 46 MR tankers) with an average age of 1.0 years, time charters-in 17 product tankers (four LR2, four LR1, four MR and five Handymax tankers) and has contracted for 10 newbuilding product tankers (five MR and five LR2), two of which are expected to be delivered in the third quarter of 2015, four throughout 2016 and four throughout 2017. Additional information about the Company is available at the Company's website www.scorpiotankers.com, 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.
212-542-1616




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