Scorpio Tankers has forged a one-year charter deal for a medium-range product tanker with Reliance Industries at a rate that is said to be somewhat higher than broker estimates..

European brokers report that the Indian charterer has fixed the 50,000-dwt STI Amber (built 2012) for a year from Scorpio Tankers.

The transaction emerges as Howe Robinson ratcheted down its estimate for a one-year MR charter by 1.8%