Monaco-headquartered Scorpio Tankers has exercised an option to buy the 2016-built LR2 product tanker STI Sanctity from Norway’s Ocean Yield.
from Norway’s Ocean Yield.This 110,000 dwt vessel, which is currently leased, was acquired as part of the acquisition of Navig8 Product Tankers in 2017.
The New York-listed company said the purchase, expected to occur in the first quarter of 2023, should result in a debt reduction of $27.8m.
Emanuele Lauro-led Scorpio Tankers earlier in September exercised purchase options on eight ships that were sold and leased back in the third quarter of 2018. Completion of this deal is expected to occur in the fourth quarter of 2022, resulting in a debt reduction of $133m.
