Scorpio Tankers sells three product tankers and orders four newbuildings

Scorpio Tankers has agreed to sell three product tankers for a combined $180.5 million while adding four newbuildings to its orderbook, including two LR2 product tankers and two VLCCs.

The three vessel sales are expected to be completed before the end of 2026. Meanwhile, the newly ordered ships are scheduled for delivery between 2028 and 2029.

Scorpio Tankers sells three vessels

The vessels being sold include the 2014-built, scrubber-fitted MR product tanker STI Dama, which has been agreed at a price of $37.5 million.

Scorpio Tankers will also sell two scrubber-fitted LR2 product tankers. The 2014-built STI Elysees is being sold for $70 million, while the 2015-built STI Veneto has been agreed at $73 million.

Together, the three transactions have a value of $180.5 million.

Two LR2s and two VLCCs added to orderbook

At the same time, Scorpio Tankers has entered into agreements for four new vessels at Chinese shipyards.

Two scrubber-fitted LR2 product tankers are expected to be built by Jiangsu Hantong Ship Heavy Industry at a price of $72.8 million each. Deliveries are scheduled for October and November 2029.

The company has also agreed to purchase two scrubber-fitted VLCC newbuildings from Hengli Shipbuilding (Dalian). Each vessel is priced at $135 million, with deliveries expected in September and October 2028.

The four newbuildings represent a combined investment of $415.6 million.

Following the latest agreements, Scorpio Tankers said it has agreements or letters of intent covering five MR newbuildings scheduled for delivery in 2027 and 2030, eight LR2 newbuildings due in 2027 and 2029, and four VLCC newbuildings expected in 2028.

Scorpio Tankers currently owns 74 product tankers, comprising 25 LR2s, 35 MRs and 14 Handymax vessels. The fleet has an average age of 10.2 years.