Scorpio Tankers buying back four more ships

New York-listed Scorpio Tankers is continuing to release its fleet out of sale-and-leaseback debt with four more ship repurchases.

The Monaco-based product tanker giant said in its quarterly earnings report it had given notice to exercise the purchase options on two MRs STI Gramercy and STI Queens and a pair of LR2s STI Oxford and STI Selatar.

The ships financed via AVIC Leasing are expected to change ownership in the second quarter of 2024, and reduce Scorpio Tanker’s debt by $102.4m.

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