Scorpio Tankers Inc. (NYSE:STNG) (Scorpio Tankers) announced on Tuesday that it has entered into agreements to sell five MR product tankers (four 2012 built and one 2013 built). 

Scorpio Tankers Announces Agreements to Sell Five MR Product Tankers

The 2012 built vessels (three of which are scrubber fitted), STI Garnet, STI Onyx, STI Ruby, and STI Topaz, have been contracted to be sold for $142.5 million in aggregate to three separate buyers. 

The 2013 built vessel, STI Beryl (which is not scrubber fitted), has been contracted to be sold for $36.6 million. The Company will make no debt repayments associated with these sales as these vessels are unencumbered. The sales are expected to close within the third quarter of 2024.

Following the completion of the above sales, the Company’s entire fleet will comprise vessels built in 2014 or after.