STNG - Scorpio Tankers Inc. Announces Agreements to Sell Five MR Product Tankers | Benzinga
MONACO, June 11, 2024 (GLOBE NEWSWIRE) -- Scorpio Tankers Inc. (NYSE:STNG) ("Scorpio Tankers," or the "Company") announced today that it has entered into agreements to sell five MR product tankers (four 2012 built and one 2013 built). The 2012 built vessels (three of which are scrubber fitted), STI Garnet, STI Onyx, STI Ruby, and STI Topaz, have been contracted to be sold for $142.5 million in aggregate to three separate buyers. The 2013 built vessel, STI Beryl (which is not scrubber fitted), has been contracted to be sold for $36.6 million. The Company will make no debt repayments associated with these sales as these vessels are unencumbered. The sales are expected to close within the third quarter of 2024.
Following the completion of the above sales, the Company's entire fleet will comprise vessels built in 2014 or after.
About Scorpio Tankers Inc.
Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. Scorpio Tankers Inc. currently owns or lease finances 108 product tankers (39 LR2 tankers, 55 MR tankers and 14 Handymax tankers) with an average age of 8.3 years. The Company has entered into agreements to sell six of its MR tankers, which are expected to close in the second or third quarter of 2024. Additional information about the Company is available at the Company's website www.scorpiotankers.com, which is not a part of this press release.
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