Scorpio Tankers Signs Sale, Leaseback for Six More MRs

Illustration; Image Courtesy: Pexels, Under CC0 License Licence

Monaco-based shipowner Scorpio Tankers has reached an agreement to sell and leaseback six MR product tankers to CMB Financial Leasing.

The units in question are STI Battery, STI Milwaukee, STI Tribeca, STI Bronx, STI Manhattan, and STI Seneca.

Upon completion, the company said that it expects its liquidity to increase by USD 52 million in aggregate after the repayment of outstanding debt.

Under the deals, Scorpio Tankers will bareboat charter-in the vessels for a period of eight years. In addition, the company has purchase options beginning at the start of the fourth year of each agreement. There is also a purchase obligation for each vessel upon the expiration of each agreement.

The lease financing arrangements are part of the company’s new financing initiatives that were announced on April 25, 2018.

In late May 2018, the shipowner signed sale and leaseback contracts for another six MR product tankers.

Under the deals, China Huarong Shipping Financial Leasing was to bareboat charter-in the vessels, including STI Opera, STI Virtus, STI Venere, STI Aqua, STI Dama, and STI Regina, for a period of eight years.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Nov 2019 >>
MTWTFSS
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 30 1

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >

CrewConnect Global 2019

CrewConnect Global is the leading forum for collaboration to advance new industry approaches to seafarer recruitment and training.

read more >

CruiseConnect Global 2019

Attend CrewConnect Global and stay on for the CruiseConnect Summit to take part in an industry-wide conversation focused…

read more >

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >