Scorpio Tankers Inc. (NYSE:STNG) has entered into separate sale agreements covering six product tankers built in 2014, with the aggregate sale price set at $300 million. The disposal is divided by vessel class: three LR2 product tankers will change hands for a combined $195 million and three MR product tankers will be sold for a combined $105 million.
The three LR2s included in the transaction are named STI Park, STI Sloane and STI Madison. Together they account for the $195 million portion of the deal. Scorpio Tankers reported that STI Park and STI Sloane carry no outstanding debt.
The MR tranche comprises STI Aqua, STI Regina and STI Opera, which together form the $105 million component of the sale. Prior to repayment activity, STI Aqua, STI Regina and STI Opera had an aggregate outstanding balance of $21.3 million on the company’s 2023 $225.0 million Revolving Credit Facility. In addition, STI Madison had $10.7 million of debt outstanding on that same facility.
The company indicated the sales are expected to be completed within the second quarter of 2026. Scorpio Tankers also disclosed that the outstanding debt associated with STI Aqua, STI Regina and STI Opera was repaid in April 2026.
Financially, the transactions are structured so that proceeds from the LR2 group total $195 million and proceeds from the MR group total $105 million, combining to the announced $300 million aggregate consideration. The statement clarified which vessels carried debt prior to the repayment noted in April 2026 and which vessels were free of outstanding borrowings at the time of the announcement.
This set of sales reduces the company’s fleet by six 2014-built product tankers and alters the leverage profile associated with those specific ships, given the repayment and differing debt positions disclosed for individual vessels. The announced timetable places final closing within the second quarter of 2026.