Scorpio Tankers has ordered two MR product tankers and two Handymax product tankers at South Korea's Hyundai Mipo Dockyard, with options for up to six more MRs and six more Handymaxes which could push the total newbuilding order to US$536m.

The contract price for the MR product tankers is approximately US$34.5m, and they are scheduled for delivery in the first and second quarter of 2017.

The contract price for the Handymax product tankers is about US$32.5m, and these vessels are set for delivery in the second and third quarter of 2017.

If ordered, the optional 12 vessels would have fixed delivery dates and fixed prices.