Scorpio Tankers Inc. (ticker: STNG) announced that its independent director Donald C. Trauscht died yesterday. Mr. Trauscht was a member of the company’s audit committee.
Scorpio Chairman and CEO Emanuele Lauro said, “Don has been an invaluable member of our board of directors since his appointment in 2010, and the company will be forever grateful for his contributions and dedication. His sound judgement and wealth of experience will be missed by his fellow directors and each and every Scorpio Tankers employee.”
Scorpio Tankers Inc. currently owns 77 product tankers (21 LR2, 14 Handymax, and 42 MR tankers) with an average age of 2.1 years and time charters-in 16 product tankers (two LR2, one LR1, eight MR and five Handymax tankers). It has contracted for 10 newbuilding product tankers (eight MR and two LR2 tankers), with the first two deliveries scheduled for Dec. 2016, and first quarter of 2017.
