Scorpio Tankers announces an agreement to sell an MR product tanker and the exercise of purchase options on five ships

Scorpio Tankers Inc. has entered into an agreement to sell an MR product tanker, and has exercised the purchase options on five ships, according to the company's release.

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.

The company has given 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 for the company.

Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. Scorpio Tankers Inc. currently owns, lease finances or bareboat charters-in 111 product tankers (39 LR2 tankers, 58 MR tankers and 14 Handymax tankers) with an average age of 8.0 years.