Scorpio Tankers In A Shopping Spree Of More MR Product Tankers

New York-listed Scorpio Tankers is continuing its remarkable buying spree by snapping up more product tankers in January.

Scorpio Tankers, which embarked on a purchasing spree last year, has been one of the most active players in the purchase market for MR and LR2 product tankers.

The shipowner has pushed its remarkable spending spree with a handful of financed purchases.

The company has sealed yesterday another deal to exercise its purchase options on one 2015 built MR product tanker (STI Westminster) and four 2014 built Handymax product tankers (STI Brixton, STI Comandante, STI Pimlico and STI Finchley).

The purchases, which are expected to occur in the first half of 2024, will result in a debt reduction of $61.1m, as the company claims.

Meanwhile the company has entered into an agreement to sell the 2015 built MR product tanker, STI Tribeca, for $39.1m. The sale of this vessel is expected to close within the first quarter of 2024.

Scorpio Tankers currently owns, lease finances or bareboat charters-in 111 product tankers (39 LR2 tankers, 58 MR tankers and 14 handymax tankers), with an average age of 8.0 years.