Scorpio Sells, Leases Back MR Quintet

Monaco-based tanker owner Scorpio Tankers has entered into a deal to sell and leaseback five 2012-built MR product tankers to Bank of Communications Financial Leasing Co.

The ships in question are STI Amber, STI Topaz, STI Ruby, STI Garnet, and STI Onyx, the company said.

Until now, three of the five transactions have been completed, which has increased Scorpio’s liquidity by around USD 21 million in aggregate after the repayment of the outstanding debt.

Each of the vessels was sold for USD 27.5 million, Scorpio said, adding that the company will bareboat charter-in the vessels for a period of seven years at USD 9,025 per day per vessel.

As agreed, the shipowner also has three one-year options to extend the bareboat charter agreements beyond the initial term. In addition, Scorpio Tankers has purchase options beginning at the end of the fifth year and until the end of the agreements.

Scorpio Tankers owns or finance leases 106 product tankers, including 42 MR tankers, with an average age of 2.2 years and time or bareboat charters-in 19 product tankers.

The company’s fleet will be joined by three newbuilding MR product tankers, which are expected to be delivered throughout the remainder of 2017 and the first quarter of 2018.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jan 2019 >>
MTWTFSS
31 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

Maritime Reconnaissance & Surveillance Technology

Now in its 4th successful year, Maritime Reconnaissance & Surveillance Technology is the only event that specifically.

read more >

GREENTECH IN SHIPPING GLOBAL FORUM

The mindset of sustainability and efficiency is the key to unlocking successful business…

read more >

LNG2019

LNG2019 features the largest number and highest level of LNG industry leaders.

read more >