Scorpio Tankers inks another sale and leaseback deal

Scorpio Tankers inks another sale and leaseback deal

Emanuele Lauro’s Scorpio Tankers has sealed a deal to sell and leaseback six MR product tankers to China Huarong Shipping Financial Leasing.

The six vessels are STI Opera, STI Virtus, STI Venere, STI Aqua, STI Dama, and STI Regina. Scorpio will bareboat charter the vessels for a period of eight years, with purchase options beginning at the end of the third year and a purchase obligation at the end of the charters.

The deal with provide Scorpio with around $48m of additional liquidity after the repayment of outstanding debt.

Earlier this month, Scorpio sealed a deal with China’s AVIC International Leasing for the sale and leaseback of five product tankers. The sale and leaseback financing arrangements are part of the company’s new financing initiative.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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