Scorpio Tankers Inc. (NYSE:STNG) has declared that it has exercised the purchase options on five ships and entered into a contract to sell an MR product tanker.
Scorpio Tankers Inc. offers sea transportation services for petroleum products all over the world. With an average age of 8.0 years, Scorpio Tankers Inc. currently owns, leases, finances, or bareboat charters 111 product tankers (39 LR2 tankers, 58 MR tankers, and 14 Handymax tankers).
The 2015-built MR product tanker, STI Tribeca, will be sold by the company for $39.1 million. It is anticipated that the sale of this vessel will conclude in the first quarter of 2024.
One 2015-built MR product tanker (STI Westminster) and four 2014-built Handymax product tankers (STI Brixton, STI Comandante, STI Pimlico, and STI Finchley) have received notification from the company that they may exercise their purchase options. The transactions will save the company $61.1 million in debt when they close, which is anticipated to happen in the first half of 2024.
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