Scorpio Tankers Buys Back 8 Ships As It Heads for Record Profit

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Scorpio Tankers has exercised purchase options on eight ships, taking two handymax product tankers, the STI Battersea and STI Wembley, as well as four MR product tankers, the STI Ville, STI Texas City, STI Meraux and STI Brooklyn, and two LR2 product tankers, the STI Rose and STI Rambla. These vessels were sold and leased back by the company in the third quarter of 2018.

The purchases, which are expected to occur in the fourth quarter of 2022, are expected to result in a debt reduction of $133m for the Emanuele Lauro-led company.

In June, Scorpio Tankers exercised purchase options on six 2014-built MR product tankers.

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Source: Scorpio Tankers

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