The New York-listed product tanker owner Scorpio Tankers signed this month a letter of intent to buy two scrubber-fitted LR2 newbuilding product tankers for $72.8m per vessel. The vessels are to be constructed by Jiangsu Hantong Ship Heavy Industry in China and deliveries are expected in the second and third quarters of 2029.
The latest moves take Scorpio’s newbuilding programme to 14 ships, comprising six MRs that are currently under construction with deliveries expected in 2026, 2027 and 2030, six LR2s with deliveries expected in 2027 and 2029, and two VLCCs with deliveries expected in 2028.
The Emanuele A. Lauro-led company also agreed to acquire a minority ownership interest (less than 15%) in a joint venture which has entered into shipbuilding contracts to construct eight scrubber-fitted VLCCs. Deliveries are scheduled between the third quarter of 2029 and the second quarter of 2030.
Separately, the company closed on the sales of four LR2 product tankers for $285.8m in aggregate and one MR for $35m. These sales consisted of two 2014-built LR2 product tankers, STI Broadway and STI Condotti, two 2015 LR2 product tankers, STI Winnie and STI Lauren, and the 2015-built MR product tanker, STI Brooklyn.
Furthermore, Scorpio Tankers reached deals to time charter-out three 2015-built MR product tankers consisting of STI Notting Hill and STI Westminster, each for three years at a rate of $25,000 per day, and STI Bronx for three years at a rate of $23,900 per day.
The time charters for STI Notting Hill and STI Westminster are expected to begin between September 1 and December 31, 2026, at the company’s discretion, and STI Bronx is expected to commence in the fourth quarter of 2026.
Scorpio Tankers currently owns 74 product tanker, consisting of 25 LR2 tankers, 35 MR tankers and 14 handymax tankers, with an average age of 10.2 years.
