Scorpio Tankers firms up options for five ships, sells one MR tanker

Monaco-based shipping company Scorpio Tankers has entered into an agreement to sell an MR product tanker, and has exercised the purchase options on five ships.

The Company has entered into an agreement to sell the 2015-built MR product tanker, STI Tribeca, for $39.1 million.

The sale of this vessel is expected to close within the first quarter of 2024.

Furthermore, Scorpio Tankers has given the notice to exercise its purchase options on one 2015-built MR product tanker (STI Westminster) and four 2014-built Handymax product tankers (STI Brixton, STI Comandante, STI Pimlico and STI Finchley).

The purchases, which are expected to occur in the first half of 2024, will result in a debt reduction of $61.1 million, according to the firm.

 Scorpio Tankers Inc. currently owns, lease finances or bareboat charters-in 111 product tankers.

This includes 39 LR2 tankers, 58 MR tankers and 14 Handymax tankers.

In April last year,  Scorpio Tankers exercised purchase options on six product tankers. These vessels were STI Lobelia, STI Magic, STI Mystery, STI Marvel, STI Mythic, and STI Magister.