Emanuele Lauro’s Scorpio Tankers has exercised options to buy back six 2014-built MR product tankers from China Huarong Shipping Financial Leasing.
STI Opera, STI Virtus, STI Venere, STI Aqua, STI Dama, and STI Regina were all offloaded on a sale and leaseback deal in 2018. They were chartered back for a period of eight years with purchase options beginning from the end of the third year.
The company said the leases bear interest at LIBOR plus 3.50% per annum, and that buying the vessels back will result in a debt reduction of $95m.
Completion of the deal is expected next month.
Monaco-headquartered Scorpio currently owns, leases or bareboat charters in 115 product tankers comprised of 40 LR2s, 61 MRs and 14 handymaxes.
