New York-listed Scorpio Tankers has sealed a deal to sell one ship bought out of lease financing in 2022, while it continues to buy back more vessels to further reduce financial costs.
The Emanuele Lauro-led product tanker giant is shipping out the 2015-built MR2 STI Tribeca for $39.1m, with delivery in the first quarter. The 50,000 dwt ship ordered by Scorpio in 2013 for $32.5m, was under a sale-and-leaseback agreement with CMB Financial Leasing until mid-December 2022.
In addition, the Monaco-headquartered company has given notice that it will be buying back the 2015-built MR2 STI Westminster and the 2014-built MR1s STI Brixton, STI Comandante, STI Pimlico and STI Finchley.
All five ships are financed under a deal with CMB Financial Leasing. The latest series of Scorpio buybacks should take place in the first half of 2024 and result in a debt reduction of $61.1m.
In December, Scorpio Tankers, with a fleet of 111 ships, freed another 13 ships of debt or lease obligations.
