Scorpio Tankers has moved to refresh its LR2 fleet, agreeing to sell two 2016-built vessels while lining up two scrubber-fitted newbuildings in China.
The Monaco-headquartered owner and operator said it has struck a deal to sell the LR2 product tankers STI Goal and STI Gallantry for $52.3m apiece. Both ships should change hands in the first quarter of 2026.
STI Gallantry is financed under the company’s 2021 Ocean Yield lease arrangement, with an outstanding lease balance of $23.4m that Scorpio expects to fully repay before the end of 2025. STI Goal is financed under the company’s 2023 $1bn credit facility, with $13.8m outstanding across the term loan and revolving portions.
Both vessels are due for their 10-year special surveys and drydockings in the second quarter of 2026, meaning the associated costs will fall to the buyer following completion of the sales.
At the same time, the New York-listed tanker owner has agreed to purchase two scrubber-fitted LR2 newbuildings for $70.8m per vessel. The ships are under construction at Dalian Shipbuilding Industry Co. in China, with deliveries scheduled for the third quarter of 2027.
Emanuele Lauro-led Scorpio Tankers currently operates a fleet of 93 product tankers. Including the latest sales, the company has agreed to offload three LR2s and four 2014-built, scrubber-fitted MRs. On the newbuilding side, Scorpio has four MR units for delivery in 2026 and 2027, two VLCCs due in the second half of 2028, and now two additional LR2 newbuildings.
