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.