Scorpio Tankers has agreed to sell two 2019-built LR2 product tankers, taking advantage of firm secondhand prices to strengthen its balance sheet.
The New York-listed owner said the scrubber-fitted STI Lobelia and STI Lavender were sold for $61.2m each. Deliveries to the new owners are scheduled for the fourth quarter of 2025.
The company said it expects to repay $14m of outstanding debt linked to its $1bn credit facility following the disposals, alongside a $30.7m reduction in the undrawn revolving portion of the facility. The 2019 New Times-built 110,000 dwt vessels were bought out of leases in 2023.
“These sales offer the dual benefit of capitalising on cyclically high secondhand vessel values while further strengthening our balance sheet,” said chairman and chief executive Emanuele Lauro, adding that at $131m on a pro-forma basis, the company’s net debt could reach zero in the near future.”
The move follows the September sale of the 2020-built MR STI Maestro for $42m, which was used to pay down $5.1m of debt.
Scorpio Tankers currently owns or leases 99 product carriers, including 38 LR2s, 47 MRs, and 14 handymaxes.
