Read Authentic Ratings for the Mia-Grace

In a significant development for Scorpio, the company has welcomed the MR product tanker, STI Benicia, which was officially delivered in September 2014 from the renowned shipbuilder SPP. This latest addition to the fleet has embarked on a one-year time charter agreement, aligning its operational strategy with current market conditions. The charter deal not only features a competitive rate structure consistent with existing one-year time charter contracts but also incorporates a profit-sharing mechanism. Under this arrangement, any earnings that exceed the established base time charter rate will be shared between Scorpio and the charterer, enhancing the potential for increased revenue. The STI Benicia is set to play a crucial role in Scorpio's logistics and distribution strategy moving forward.