Scorpio Tankers Confirms Sale of Two MR Product Tankers

Image Courtesy: Scorpio Tankers

Monaco-based tanker shipping company Scorpio Tankers has confirmed the sale of two of its MR product tankers, STI Sapphire and STI Emerald.

As disclosed, the company reached an agreement with an unnamed party to sell the 52,000 dwt vessels, which were built at South Korean Hyundai Mipo shipyard in 2013, for a total of USD 56.4 million.

“The sales are expected to close in June 2017 at which time the company will repay the outstanding secured debt for these vessels of USD 27.6 million in aggregate,” Scorpio Tankers said.

Additionally, Scorpio plans to record a write-down of around USD 9.3 million during the second quarter of 2017 in connection with the entry into this agreement.

Last month, the company also entered into agreements to sell and leaseback three MR product tankers, STI Beryl, STI Le Rocher and STI Larvotto, to China’s Bank of Communications.

Currently, Scorpio Tankers’ fleet is comprised of 78 owned product tankers with an average age of 2.3 years and 22 time or bareboat chartered-in vessels. In addition, the company has contracted for six newbuilding MR product tankers which are expected to be delivered by the end of 2017 and in the first quarter of 2018.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Oct 2017 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Green Ship Technology North America

Survival of the fittest in maritime: Make smart investments, ensure you are compliant, future proof your fleet…

read more >

Mozambique Gas Summit & Exhibition

Mozambique Gas Summit & Exhibition is recognised as the leading strategic meeting for Mozambique’s gas industry. Working in partnership…

read more >

Bulk Liquid Storage Europe 2017

The event will cover current key challenges and issues faced by the industry and provide in depth discussions and analysis of today`s…

read more >

3RD ANNUAL GENERAL AVERAGE SEMINAR

ATTEND THIS SEMINAR TO:
– Get up to speed on the revisions to the York-Antwerp Rules 2016…

read more >