Monaco-based Scorpio Tankers strikes a new time charter-out deal worth nearly $43.8 million.
The New-York listed company has fixed an LR2 vessel scrubber-fitted for three years. The company didn’t reveal the name of the client. The charter commences in April this year at a daily time charter rate of $40,000 with a total fixed revenue of $43.8 million.
Emanuele A. Lauro, who is the founder of the company currently owns, lease finances or bareboat charters-in 113 product tankers (39 LR2 tankers, 60 MR tankers and 14 Handymax tankers) with an average age of 7.2 years.
The company recently said it will exercise the purchase options on six ships which will result in a debt reduction of $149.8 million for Scorpio Tankers.
The owner of product tankers said it has given notice to exercise its purchase options on two 2016 built LR2 product tankers, the STI Grace and STI Jermyn, one 2019 built LR2 product tanker, the STI Lavender, two 2019 built MR product tankers, the STI Magnetic and STI Marshall, and one 2020 built MR product tanker, the STI Miracle.
The company said the leases bear interest at LIBOR plus a margin of 3.50% per annum, and that the purchase, which is expected to occur in May 2023, will result in a debt reduction of $149.8 million for Scorpio Tankers.