Scorpio tankers inc. announces an agreement to sell two MR Product Tankers

May 15 2017 Print This Article
Monaco-based tanker shipping company Scorpio Tankers has confirmed the sale of two of its MR product tankers, STI Sapphire and STI Emerald.

According to the release, the company has reached an agreement with an unrelated third party to sell two of its 2013 built MR product tankers for approximately $56.4 million in aggregate.

The sales are expected to close in June 2017 at which time the Company will repay the outstanding secured debt for these vessels of $27.6 million in aggregate. The Company will record a write-down of approximately $9.3 million during the second quarter of 2017 in connection with the entry into this agreement.