New York-listed Scorpioyesterday took its firm orderbook to 28 vessels using up what appears to be thelast of its cash available from bank loans and two successful equity issues.
Jonathan Chappell ofEvercore Partners the company had firepower of $300m less than two weeks ago.
Since that time it hascommitted to eight newbuildings with a combined outlay of $294m.
“Nobody could accuse STNG management of not followingthrough on their promises…in a very timely manner,” he said.
