Scorpio Tankers (NYSE:STNG) announced on Thursday a series of agreements to sell three aging product tankers and secure multi-year charters for two others, marking a continued push to capitalize on high asset values while locking in steady cash flows.
The Monaco-based company reached deals to divest two 2015-built, scrubber-fitted MR tankers—the STI Seneca and STI Osceola—for $35 million each, alongside the sale of the 2015-built LR2 tanker STI Solidarity for $60 million.
The transactions, slated to close in the first or second quarter of 2026, will generate approximately $130 million in gross proceeds.
Net liquidity will be significantly bolstered by the relatively low leverage on the vessels; the three tankers carry a combined outstanding debt balance of just $20.2 million under the company's 2023 credit facility.
In a parallel move to de-risk its revenue profile, Scorpio secured long-term employment for two LR2 tankers: the STI Lombard was chartered for five years at $33,000 per day, while the STI Rambla was fixed for eight years at $30,500 per day.