Successful Transit of the Northern Sea Route
16th August 2011 -

Scorpio Ship Management s.a.m. Announces the Successful Transit of the Northern Sea Route by its Managed Vessel STI Heritage

Monaco- August 16, 2011- Scorpio Ship Management s.a.m. (“SSM”) today announced that its managed vessel, STI Heritage, has successfully completed a voyage from Vitino, Russia to Map Ta Phut, Thailand, via the Northern Sea Route (“NSR”). This is the first such voyage for a vessel managed by SSM.

The NSR, which connects the Atlantic to the Pacific Ocean via the Russian arctic coast, is only open occasionally for international commercial shipping and is navigable with the assistance of ice breakers from mid-summer to mid-autumn. In addition to the considerable savings achieved in distance and fuel by using the NSRP, vessels also avoid the Suez Canal tolls and the risks associated with piracy in the Gulf of Aden and Indian Ocean region.

The STI Heritage is a 73,956 MT deadweight ice class 1A Panamax tanker, operating in the Scorpio Panamax Tanker Pool, registered in the Marshall Islands, and classed with the American Bureau of Shipping (ABS). The vessel is owned by Scorpio Tankers Inc. (NYSE: STNG) and is on time charter to Gard Shipping AS. She performed this voyage under a charter to Novatek Gas and Power. The planning for this voyage included a comprehensive risk assessment of the hazards associated with navigating high latitudes and ice as well as close collaboration with the flag state, ABS, charterers, NSR authorities, industry groups, and local operators. The vessel’s Master, Captain Vlodymyr Podolskyy and his crew were selected for their skill and experience in navigating in heavy ice conditions.

The vessel departed Vitino on 17 July with a cargo of 61,000 MT of Purovsky Condensate. After stopping briefly at Murmansk, the vessel proceeded to the northern end of New Land area for her rendezvous with nuclear powered ice breaker Vaygach (45000) BHP). STI Heritage’s NSR passage involved an ice advisor and the escort of one, at times two, ice breakers owned and operated by the Federal State Unitary Enterprise (“FSUE”) ATOMFLOT, world leaders in the use of nuclear powered ice breakers. The STI Heritage arrived in the Bering Strait on 29 July having completed the NSR passage in a time of just 8 days. The vessel arrived at her final destination, Map Ta Phut, Thailand on 16 August 2011, completing the total voyage (from her previous discharge in Houston, USA) of approximately 9000 Miles.

The vessel and her crew received a letter of commendation from Capt. Vladimir Arutyunyan, Head of Fleet Operations Development Department at FSUE ATOMFLOT, which reads in part

“We are glad to outline that the tanker STI Heritage sails along the North Sea Route with confidence and deliberation. Please express on our behalf the greatest respect to the master of the STI Heritage for his outstanding professionalism. Only through joint efforts and total understanding shall we achieve positive results on the Northern Sea Route”

Emanuele Lauro, President of SSM and Chairman and Chief Executive Officer of vessel owners Scorpio Tankers Inc. remarked “This achievement is a first for SSM, and I congratulate Captain Podolskyy, his crew, and our marine professionals ashore on their skill, vigilance, and teamwork required to complete this unique voyage. The NSR passage of the STI Heritage is a reflection of all of the exemplary work carried out every day by Scorpio’s men and women at sea and ashore; the creativity, dedication, and levels of collaboration between our vessels and our offices is critical to our objective of consistently high standards of execution.”

About Scorpio Ship Management SSM has been a technical manager since 1971 and currently manages 19 ships from its offices in Monaco and India.

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