Scorpio Tankers announced that it has entered into agreements to sell two, 2016 built LR2 product tankers and to purchase two scrubber-fitted LR2 newbuilding product tankers.
Vessel Sales
The Company has entered into agreements to sell the 2016 built LR2 product tankers, STI Goal and STI Gallantry for $52.3 million per vessel. These sales are expected to close within the first quarter of 2026. STI Gallantry is currently financed on the Company’s 2021 Ocean Yield Lease Financing arrangement and the outstanding lease obligation of $23.4 million is expected to be fully repaid before the end of 2025. STI Goal is currently financed on the Company’s 2023 $1.0 Billion Credit Facility and the outstanding debt balance is currently $13.8 million (consisting of $0.3 million and $13.5 million on the term and revolving portions of this facility, respectively). Each of these vessels is due for its 10-year special survey and drydock in the second quarter of 2026, subsequent to the scheduled closing date of the sales and are therefore the responsibility of the buyer.
Newbuilding Vessel Purchases
The Company has entered into agreements to purchase two scrubber-fitted LR2 newbuilding product tankers for $70.8 million per vessel. The vessels are being constructed at Dalian Shipbuilding Industry Co., Ltd. in China and deliveries are expected in the third quarter of 2027.