Scorpio Tankers (NYSE:STNG) agreed to sell two of its 2016-built LR2 product tankers for a combined $104.6 million, while simultaneously expanding its fleet with the purchase of two scrubber-fitted newbuildings scheduled to arrive in 2027.
The company said the STI Goal and STI Gallantry will be sold for $52.3 million each, with closings expected in the first quarter of 2026.
Ahead of the sale, Scorpio plans to fully repay the $23.4 million remaining lease obligation on the STI Gallantry before year-end.
The STI Goal currently carries $13.8 million in outstanding debt under the company’s 2023 $1 billion credit facility.
Both vessels are scheduled for their 10-year special survey and drydock in the second quarter of 2026, costs that will shift to the buyers once the transactions close.
Alongside the divestments, Scorpio Tankers said it has agreed to acquire two LR2 newbuildings fitted with exhaust gas cleaning systems for $70.8 million per vessel.
The ships are under construction at Dalian Shipbuilding and are expected to be delivered in the third quarter of 2027.