Scorpio Tankers Inks Sale and Leaseback for Six MRs

Monaco-based shipowner Scorpio Tankers has decided to sell and leaseback six MR product tankers to China Huarong Shipping Financial Leasing.

The ships in question are STI Opera, STI Virtus, STI Venere, STI Aqua, STI Dama, and STI Regina.

As explained, the lease financing arrangements are part of the company’s new financing initiatives that were announced in April 2018.

As part of the agreements, the company will bareboat charter-in the vessels for a period of eight years. In addition, the company has purchase options beginning at the end of the third year of each agreement. There is also a purchase obligation for each vessel upon the expiration of each agreement.

Upon completion, the company’s liquidity is expected to increase by USD 48 million in aggregate after the repayment of outstanding debt.

These lease financing arrangements are subject to customary conditions precedent and the execution of definitive documentation, according to Scorpio Tankers.

Earlier this month, Scorpio Tankers also signed sale and leaseback deals for three MR and two LR2 product tankers.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Aug 2019 >>
MTWTFSS
29 30 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

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >