Scorpio Tankers to sell five older product tankers
Scorpio Tankers Inc. is set to sell five of its older MR product tankers for $179.1 million, completing in Q3 of 2024. The company will only operate vessels built in 2014 or later. Three buyers are purchasing the vessels, with STI Garnet, STI Onyx, STI Ruby, and STI Topaz equipped with scrubbers. CEO Lauro aims to boost cash flow and shareholder returns.