Scorpio Tankers to Purchase Four MR Product Tankers

Scorpio Tankers 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 four 2014 built scrubber-fitted MR product tankers, STI Battery, STI Venere, STI Milwaukee and STI Yorkville, are being sold for $32.0 million 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 $7.3 million of debt outstanding per vessel.

The four scrubber-fitted MR newbuildings are currently under construction at Jingjiang Nanyang Shipbuilding in China. The purchase price is $45.0 million 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.

Emanuele Lauro, Chairman and Chief Executive Officer, commented: “The sale of older MR vessels, together with the acquisition of modern, scrubber-equipped newbuildings, enhances the fleet’s age profile and overall quality while requiring minimal incremental capital expenditure.”