Scorpio Tankers Inc. Announces Agreements to Sell Five MR Product Tankers

Core Viewpoint - Scorpio Tankers Inc. has announced the sale of five MR product tankers, which will result in the entire fleet comprising vessels built in 2014 or later, indicating a strategic move to modernize its fleet [2][8]. Group 1: Sales Announcement - The company has entered into agreements to sell four MR tankers built in 2012 for a total of $142.5 million to three separate buyers, with three of these vessels being scrubber fitted [8]. - Additionally, one MR tanker built in 2013, STI Beryl, is contracted to be sold for $36.6 million [8]. - The sales are expected to close within the third quarter of 2024, and the company will not make any debt repayments associated with these sales as the vessels are unencumbered [8]. Group 2: Company Overview - Scorpio Tankers Inc. is a provider of marine transportation of petroleum products globally, currently owning or leasing 108 product tankers, which include 39 LR2 tankers, 55 MR tankers, and 14 Handymax tankers, with an average age of 8.3 years [9]. - The company has also entered into agreements to sell six additional MR tankers, expected to close in the second or third quarter of 2024 [9].