Scorpio Tankers opts for six more product tankers

Monaco-based company Scorpio Tankers has exercised purchase options on six more product tankers.

Scorpio Tankers

The announcement comes a month after the company revealed it signed up for six more product tankers.

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Now, the firm opted for one LR2 product tanker and six MR tankers. The vessels in question are STI Lobelia, STI Magic, STI Mystery, STI Marvel, STI Mythic, and STI Magister.

According to Scorpio Tankers, leases bear interest at LIBOR plus a margin of 3.50% per annum. The purchases, which are expected to occur in June 2023, will result in a debt reduction of $147.3 million for the company.

Scorpio Tankers currently owns, and finance leases or bareboat charters in 113 product tankers, i.e. 39 LR2 tankers, 60 MR tankers and 14 Handymax tankers.