Scorpio Tankers (STNG) has entered into agreements to sell two, 2016 built LR2 product tankers and to purchase two scrubber-fitted LR2 newbuilding product tankers. The company has entered into agreements to sell the 2016 built LR2 product tankers, STI Goal and STI Gallantry for $52.3M per vessel. These sales are expected to close within 1Q26. STI Gallantry is currently financed on the company’s 2021 Ocean Yield Lease Financing arrangement and the outstanding lease obligation of $23.4M is expected to be fully repaid before the end of 2025. STI Goal is currently financed on the company’s 2023 $1.0B credit facility and the outstanding debt balance is currently $13.8M, consisting of $0.3M and $13.5M on the term and revolving portions of this facility, respectively. Each of these vessels is due for its 10-year special survey and drydock in 2Q26. The company has also entered into agreements to purchase two scrubber-fitted LR2 newbuilding product tankers for $70.8M per vessel. The vessels are being constructed in China and deliveries are expected in 3Q27.
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