Tankers

Scorpio Tankers announces sale and leaseback agreements for six tankers

Baird Maritime
MarineTraffic.com/Erwin Willemse

Scorpio Tankers has agreed to sell and leaseback six MR product tankers to CMB Financial Leasing.

Upon completion, Scorpio's liquidity is expected to increase by US$52 million in aggregate after the repayment of outstanding debt.

As part of the agreements, Scorpio will bareboat charter-in the vessels for a period of eight years. In addition, they have purchase options beginning at the start of the fourth year of each agreement.

There is also a purchase obligation for each vessel upon the expiration of each agreement.