The New York-listed product tanker owner Scorpio Tankers has entered into agreements to sell four of its 2014-built MR product tankers and has agreed to purchase four MR newbuilding resales with deliveries expected in 2026 and 2027.
The Emanuele A. Lauro-led company has signed deals to sell four 2014-built scrubber-fitted MR product tankers, STI Battery, STI Venere, STI Milwaukee and STI Yorkville, for $32m per vessel. The sales are expected to close within the first quarter of 2026.
These vessels are financed under Scorpio’s 2023 $225m revolving credit facility and there is currently $7.3m of debt outstanding per vessel.
Furthermore, Scorpio has agreed to purchase four scrubber-fitted MR newbuildings, which are currently under construction at Jingjiang Nanyang Shipbuilding Co., Ltd. in China.
The purchase price is $45m per vessel and the expected deliveries are one vessel in each of the second and third quarters of 2026, and the first and second quarters of 2027.
Emanuele Lauro, chairman and chief executive officer of Scorpio Tankers, said: “The sale of older MR vessels, together with the acquisition of modern, scrubber-equipped newbuildings, enhances the fleet’s age profile and overall quality while requiring minimal incremental capital expenditure.”
Scorpio Tankers currently owns or lease finances 99 product tankers (38 LR2 tankers, 47 MR tankers and 14 handymax tankers) with an average age of 9.6 years.
The company has been active on both sides of the sale and purchase sector this year, agreeing to dispose of five MR and two LR2 product tankers, expected to close in the fourth quarter of 2025 and first quarter of 2026.
