Scorpio Tankers Inc. announced that it has reached agreements to sell three product tankers and purchase four new vessels. This move reflects the company's strategy to improve its fleet and increase operational capacity.
Details of the Tanker Sales
Scorpio Tankers has initiated the sale of three product tankers, including the MR STI Dama, with a capacity of 46,000 tons, built in 2014 and equipped with a scrubber system, for a price of $37.5 million. Additionally, the LR2 STI Elysees, also built in 2014 and equipped with a scrubber system, is being sold for $70.0 million. Finally, the LR2 STI Veneto, built in 2015 and featuring a similar scrubber system, is priced at $73.0 million. These sales are expected to be completed before the end of 2026.
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Purchase of New Vessels
Scorpio Tankers has also reached agreements to purchase four new vessels. These vessels include two LR2 tankers and two VLCC tankers. The LR2 tankers, with a capacity of 100,000 tons, are set to be built at Jiangsu Hantong Ship Heavy Industry Co., Ltd. in China, each priced at $72.8 million. Delivery of these vessels is expected in October and November 2029. Additionally, the VLCC tankers will be constructed at Hengli Shipbuilding (Dalian) Co., Ltd. at a price of $135.0 million each, with delivery anticipated in September and October 2028.
These agreements allow Scorpio Tankers to modernize its fleet and enhance its operational capabilities. Given the changes in the oil market and demand for the transportation of petroleum products, fleet modernization could help improve the company's financial performance.
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