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>

<< Feb 2020 >>
MTWTFSS
27 28 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 1

Eastern Mediterranean Offshore Conference and Exhibition (EMC) 2020

EMC 2020 conference will arm delegates with technical and commercial knowledge to capitalise…

read more >

2nd GREENTECH IN SHIPPING GLOBAL FORUM

Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >