NYSE-listed Scorpio Tankers says it has entered into agreements to acquire four LR2 product tanker newbuildings for around US$60m each.
Three of the tankers have been acquired from Oslo-listed Navig8 Product Tankers for a sum of US$178.5m.
The three vessels are under construction at South Korea's Sungdong Shipbuilding and Marine Engineering.
The fourth vessel, acquired from an as yet unknown seller, is being constructed at Daehan Shipbuilding in South Korea.
"We are very pleased to have successfully closed this transaction at a firm price that generates a substantial profit for the company," Nicolas Busch, CEO of Navig8 Product Tankers, said. "Combined with the invested equity released, this transaction further strengthens the balance sheet and is consistent with our strategy of fully funding the company in the near-term."
The four vessels is expected to be delivered between June and August in 2015.
Scorpio Tankers has also received three new product tankers, built at Korean yards, all of which have employment contracts lined up.
The LR2 product tanker STI Lauren (114,900dwt) was delivered in April from Daewoo Shipbuilding and Marine Engineering, and has kicked off a 57-day voyage charter at a daily rate of around US$37,000.
STI Connaught (110,000dwt), another LR2, has begun a 60-day voyage charter for around US$34,000 per day, after having been delivered from Hyundai Samho Heavy Industries earlier this month.
Finally, Scorpio's latest MR tanker STI Osceola (50,000dwt) arrived in April from Hyundai Mipo and has begun a 120-day time charter for approximately US$19,500 each day.