Scorpio Tankers to sell four MR product tankers, buy four MR newbuilding vessels

Scorpio Tankers (STNG) announced that it has entered into agreements to sell four of its 2014 built MR product tankers and has agreed to purchase four MR newbuilding resales with deliveries in 2026 and 2027. The company has entered into agreements to sell four 2014 built scrubber-fitted MR product tankers, STI Battery, STI Venere, STI Milwaukee and STI Yorkville, for $32M per vessel. The sales are expected to close within the first quarter of 2026. These vessels are financed on the company’s 2023 $225.0 Million Revolving Credit Facility and there is currently $7.3M of debt outstanding per vessel. The company has agreed to purchase four scrubber-fitted MR newbuildings, which are currently under construction at Jingjiang Nanyang Shipbuilding Co., Ltd. in China. The purchase price is $45M per vessel and the expected deliveries are one vessel in each of the second and third quarters of 2026, and the first and second quarters of 2027.